Goldman Sachs stock has soared: here’s why it has more gains ahead

Goldman Sachs stock price is doing well this year, helped by the ongoing trends in the financial services industry. GS jumped to a high of $1,062 on Friday, up by 20% this year and 70% in the last 12 months. This surge may continue as key catalysts remain.

Goldman Sachs has major catalysts

GS stock price has done well in the past few months, and this trend may continue. For one, data shows that key components of its business is thriving. Data compiled by WSJ shows that the company ranks higher in the M&A space, advising deals worth over $647 billion. It is much higher than other companies like JPMorgan, Morgan Stanley, Bank of America, and Citi, respectively. 

Goldman Sachs is also riding higher in the equity market, with the value of deals soaring to over $54 billion. This figure is also much higher than other companies like JPMorgan, Morgan Stanley, and Bank of America. The company is also seeing strong demand in the debt capital market.

Goldman Sachs was one of the top companies that benefited from the recent SpaceX IPO. Analysts estimate that the company, together with other underwriters, to pocket $500 million. Its fees in this case will be worth over $100 million. Other banks set to benefit from this are Morgan Stanley, Citi, and JPM.

The company is also set to benefit from other upcoming IPOs. OpenAI and Anthropic have already filed their IPO papers, meaning that they may go public later this year. The two companies will raise billions of dollars, with Goldman Sachs set to play an important role.

Trading business is booming

Goldman Sachs is also benefiting from the ongoing trading boom in Wall Street because of Donald Trump’s driven volatility. The most recent results showed that Goldman Sachs had over $17.2 billion in net revenue, up by 14% YoY. 

Its investment banking fees rose to $2.8 billion, while its fixed income, commodities, and currencies jumped to $4 billion. It made over $5.3 billion i its equities business. 

In a recent statement, CEO John Solomon maintained that the trading boom continued into the second quarter. 

Wall Street analysts are highly bullish on Goldman Sachs. The average estimate among analysts is that its revenue will jump by 10% this year to $63.4 billion, followed by $67 billion. 

Goldman Sachs stock price technical analysis

GS stock chart | Source: TradingView

The daily chart shows that the GS stock price has rebounded in the past few months. It jumped from a low of $781 on March 13 to a record high of $1,098. It moved slightly above the important resistance level at $985, its highest point in January. It nearly retested that level recently, a move that would have confirmed the break-and-retest pattern. 

The stock has remained above the 50-day and 100-day Exponential Moving Averages (EMA). That is a sign that bulls remain in control. 

Therefore, the stock will likely continue doing well in the coming weeks or months. If this happens, the next key level to watch will be at $1,200.