Key Stats for Goldman Sachs Stock
- Price change for Goldman Sachs stock in last 1 year: 14%
- $GS Stock Price as of Oct. 9: $895
- 52-Week High: $1154
- $GS Stock Price Target: $1069
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What Happened?
Goldman Sachs (GS) employees are already guessing who could become chief operating officer, Reuters reported. COO John Waldron is widely seen as the likely successor to CEO David Solomon in the coming years.
Two people familiar with the matter named two possible COO candidates. One is CFO Denis Coleman and the other is Ashok Varadhan, co-head of global banking and markets. Other names are also being considered.
If Coleman moves up the ladder, the CFO job would open up. Three executives who report to him would be in the running: Sheara Fredman, Ericka Leslie and Carey Halio.
The bank pushed back. Its head of communications, Tony Fratto, called the talk speculation not based on facts.
Earlier reports added context. A source said Solomon is expected to stay as CEO until 2028. The Wall Street Journal had reported a plan to hand the job to Waldron as soon as next year.
Solomon and Waldron each received $80 million retention packages last year. They vest in five years, which could encourage Solomon to stay past 2028.
Online platform Kalshi has bets on the COO job.
Varadhan has 10% odds. Dan Dees and Marc Nachmann each have 9%. Coleman was not listed.
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What the Market Is Telling Us About Goldman Sachs Stock
Leadership change matters because Goldman Sachs stock has done well under Solomon. Reuters says the share price has rallied strongly since he took over in 2018.
The bank also reports earnings on Tuesday. Its trading unit will be in focus.
The last report was strong.
- In Q2, Goldman posted record revenue of $20.3 billion and record earnings per share of $20.98.
- Return on equity was 23.5%.
- Equities revenue hit a record $7.4 billion.
- Its investment banking backlog was the highest in five years.
Shareholders are also getting paid. Goldman raised its quarterly dividend to $5 per share, up 25% from a year ago.
It also bought back $4 billion of stock in the quarter.
Still, the next leaders will face a big question. The bank leans heavily on dealmaking and trading, which rise and fall with market sentiment.
One analyst said any new CEO will need a plan to rely less on capital markets. Solomon said on the call that things rarely move in a straight line.
For now, Goldman Sachs stock is being driven by results, not by guesses about who gets which job. Still, the succession story could shape how investors view Goldman Sachs stock over the next few years.
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So what is Goldman Sachs stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
