Oppenheimer downgraded GS to "perform" from "outperform"
Goldman Sachs Group Inc (NYSE:GS) stock was last seen down 1.1% at $546.02 after Oppenheimer downgraded the banking giant to "perform" from "outperform." The firm pointed to sluggish merger and acquisition activity as a major headwind for GS, noting the lack of a clear rebound in dealmaking.
There's room for more downgrades, too, which could further pressure the stock. Coming into today, 13 of the 23 analysts covering GS rated it a "strong buy." There's also potential for price-target cuts, considering the 12-month consensus target of $654.56 comes in at an 18.6% premium to last night's close.
A shift in options traders' sentiment could also weigh on Goldman Sachs stock. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 1.74 ranks in the 75th percentile of annual readings, indicating a preference for bullish bets.
On the charts, GS has dropped 16.6% over the past month, pressured by its 10-day moving average. Though it boasts a 41.7% year-over-year gain, it's down 3.8% in 2025, after falling from its Feb. 18 all-time high of $672.19. However, the $525 level appears to be forming a floor of support.