Goldman Sachs (GS) Stock Sinks on Layoff News

GS investors were likely spooked this afternoon by Barrons's report: "Goldman Sachs Plans to Trim Several Thousand Jobs ..." For more coverage, read the full article here. On the back of this news, Goldman Sachs sank -1.2% to a price of $345.48.

The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. The company belongs to the Financial Services sector, which has an average price to earnings (P/E) ratio of 13.34 and an average price to book (P/B) ratio of 1.95. In contrast, Goldman Sachs has a trailing 12 month P/E ratio of 8.6 and a P/B ratio of 1.4.

At today's price of $345.48 per share, Goldman Sachs is -10.0% away from its target price of $383.86, and on average, analysts give the stock a rating of buy. 1.5% of the company's shares are linked to short positions, and 70.7% of the shares are owned by institutional investors.

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