Goldman Sachs share price and Q1 2022 results preview
In this article, we preview the upcoming Goldman Sachs results and look at how traders and brokers are placed leading into the event.
When are the Goldman Sachs results expected?
Goldman Sachs is set to release Q1 2022 results on 14 April 2022.
What is The Street’s expectations for the Q1 2022 results?
The Street's expectations for the upcoming results are as follows:
- Revenue of $11.925 billion (-32.64% year on year)
- Earnings per share (EPS) $8.99 (-51.67% year on year)
How to trade Goldman Sachs into the results
Refinitiv data shows a consensus analyst rating of ‘Buy’ for Goldman. The long-term price target of $429.10 suggests the share to be currently trading at a discount of 37% to a perceived longer-term fair value.
IG sentiment data shows that 93% of clients with open positions on the share (as of 8 April 2022) expect the price to rise over the near term, while 7% of these clients expect the price to fall.
Goldman Sachs – technical view
The long-term trend for Goldman remains down as the price trades firmly below the 200-day simple moving average (SMA).
In the short-term, however, we have a bullish wedge formation (red lines) and oversold signal on the company. This suggests that we could see a short-term rebound within the longer-term uptrend. The rebound would be considered following a break (close) above wedge resistance at roughly $328.90. This scenario would consider a move back towards the $375.50 level.
Traders respecting the longer-term downtrend would however look for a bearish reversal before this level ($375.50) for short entry. Alternatively, a break below wedge support ($299.60) could also suggest short entry with $269.70 the next support target.
Summary
- Goldman Sachs is set to release Q1 2022 results on 14 April 2022
- Q1 2022 are expected to show a year on year decline in both revenue and EPS
- Long-term broker consensus suggests the share to currently be a ‘buy’, with a longer-term price target of $429.10
- IG clients with open positions on the share are predominantly long
- The long-term price trend for Goldman remains down, although in the short term a falling wedge and oversold signal suggest a short-term rebound
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
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