RESEARCH REPORT
Goldman Sachs Group, Inc. (The)
GS
$894.55
As of 2026-11-02
Research note — 2026-11-02. Educational analysis, not financial advice.
The one-line version
Goldman Sachs Group, Inc. (The) trades near $894.55 on a trailing multiple of about 12.9x versus its own 5-year median near 12.5x, against contested Street targets and the usual concentration and execution risks. That's the tension. Everything below is the detail.
That's the tension. Everything below is the detail.
1. What you're paying
| Now | Its own 5-year median | Gap | |
|---|---|---|---|
| P/E (trailing) | ~12.9 | ~12.5 | +3% |
| P/E (forward) | ~12.1 | — | — |
| EPS (TTM) | 69.55 | — | — |
| Gross margin | 81.3% | — | — |
What that means in plain terms: the gap versus the company's own history is the growth or durability the market is already pricing. It is not automatically wrong — it is the bet.
Fair-value anchors on file:
- 5-year median P/E multiple: $866.32 — Applies the 5-year median multiple (12.5x) to trailing EPS.
- Street mean target: $1,031.14 — Average published analyst target.
- Street target midpoint: $990.00 — Midpoint of $730.00–$1,250.00 published range.
Street targets run from $730.00 to $1,250.00. A wide spread means the name is contested, not consensus.
2. What the bulls are counting on
- Wall Street Week Ahead
- GS flags interest rates and AI disruption as risks to long-term equity demand
- Dow Jones Biggest Decliners in the Oct. 30, 2026 Session
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Bull case, bear case, assumptions, and what to watch next.
3. What the bears see
- Dow Jones Top Losers: Oct. 30, 2026 Session
- Goldman Sachs Revises China Jewelry Stocks Amid Gold Price Retreat
- CoStar Group (CSGP) Stock Fair Value Edges Lower As Analysts Flag Execution Risk
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Bull case, bear case, assumptions, and what to watch next.
4. What would have to be true
For the stock to justify ~12.9x rather than its 5-year ~12.5x, roughly all of the following need to neutral:
- Growth or margin durability shows up in the next several reports, not just in narrative.
- Key revenue concentrations survive competitive and regulatory pressure.
- Execution on the current product or services cycle stays on schedule.
- The Street target range compresses as results clarify the contested assumptions.
Ask yourself honestly: how many of those would you bet on individually? Multiply your answers together.
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Bull case, bear case, assumptions, and what to watch next.
5. What to watch next
- Next earnings date: 1800365400
- Trailing and forward multiples versus the company's own history
- Segment growth rates in the next 10-Q / earnings release
- Material Form 4 and 13F changes
- Whether the Street high-to-low target spread narrows or widens
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Bull case, bear case, assumptions, and what to watch next.
6. What this note does not do
It doesn't tell you to buy or sell. It won't, ever.
You have the valuation in context, the strongest version of both cases, and the specific assumptions the current price depends on. What you do with that depends on your time horizon, your existing exposure, your risk tolerance, and what else you could do with the money — none of which we know.
If you want someone to tell you what to do, you want a licensed financial adviser, and that is a genuinely reasonable thing to want.
Educational and informational purposes only. Not investment advice and not a recommendation to buy or sell any security. GetStockReport is not a registered investment adviser. Figures are as of 2026-11-02 and go stale quickly — verify against primary sources before acting. All investments carry risk including loss of principal. Past performance does not guarantee future results.
8. Analyst ratings & targets
No recent activity
Analyst opinions change frequently. Past upgrades do not predict future returns.
9. Important news
Nov 7, 2026|Goldman raises global data center capacity forecast to 273 GW by 2030(Yahoo)
Investing.com -- Goldman Sachs raised its forecast for global data center capacity to 273 gigawatts by 2030 from 217 gigawatts previously, citing stronger artificial intelligence infrastructure demand and expectations for further project announcements.
Nov 6, 2026|Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid(Yahoo)
The US Supreme Court agreed to review a request by Goldman Sachs on whether bankruptcy courts can override arbitration agreements, setting up a high-stakes test of the Federal Arbitration Act’s reach.
Nov 6, 2026|SanDisk Just Crashed 22% On Midterms, Down 43% Over 3 Months: One Of The Highest Ranked Sell Side Analysts Just Doubled Down That It Will Nearly Quadruple(Yahoo)
SanDisk posted record results, yet the stock keeps sinking as Texas threatens data center moratoria. One of Wall Street's top-ranked analysts says the market has this wrong, and his reasoning hinges on three pillars.
Nov 6, 2026|Goldman Sachs and Apollo changes position on SpaceX(Yahoo)
Goldman and Apollo were in on SpaceX’s record chip deal from the start. Now they are moving it in a new direction.
Nov 6, 2026|Upwork (UPWK) Stock Faces Mixed Analyst Target Changes As Profitability Improves(Yahoo)
Upwork’s updated fair value estimate has shifted to about US$10.64 from US$9.88, signaling a recalibration of expectations around the stock. Recent analyst commentary points to a mix of higher confidence in profitability and concern about softer client and revenue trends, which has led to price targets moving in both directions over the past few months. As you read on, you will see how these changing views fit together and how to track the evolving Upwork narrative over time. Analyst Price...
News headlines are reported as-is. Verify important claims with original sources.
10. Insider Form 4 activity
| Date | Executive | Action | Shares | Value |
|---|---|---|---|---|
| Oct 27, 2026 | LESLIE ERICKA T (Chief Administrative Officer) | Sell | 40 | $36,385.2 |
| Oct 27, 2026 | LESLIE ERICKA T (Chief Administrative Officer) | Sell | 52 | $47,382.92 |
| Oct 27, 2026 | LESLIE ERICKA T (Chief Administrative Officer) | Sell | 58 | $52,909.34 |
| Oct 28, 2026 | LESLIE ERICKA T (Chief Administrative Officer) | Sell | 100 | $92,628 |
| Oct 23, 2026 | WALDRON JOHN E. (President and COO) | Sell | 73,265 | — |
| Oct 23, 2026 | WALDRON JOHN E. (President and COO) | Sell | 40,516 | $36.1M |
| Oct 23, 2026 | WALDRON JOHN E. (President and COO) | Sell | 73,265 | — |
| Oct 23, 2026 | SOLOMON DAVID M (Chairman of the Board and CEO) | Sell | 109,896 | — |
Form 4 filings are routine transactions. Scheduled sales (10b5-1 plans) are normal and not signals.
11. Institutional 13F holdings
| Fund | Shares | Position | Change |
|---|---|---|---|
| Vanguard Group | 26,142,744 | $23.0B | — |
| State Street | 18,830,464 | $19.0B | — |
| BlackRock | 18,975 | $8.6B | — |
| BlackRock Institutional Trust | 2,481,675 | $594.2M | — |
These are 45-day lagged filings (SEC requirement). Position changes happened in the past.
12. Earnings this week
No recent activity
Earnings dates are estimates and may shift. EPS estimates are consensus, not predictions.