Just In: The Goldman Sachs Group, Inc. (GS) Set for Breakout

The Goldman Sachs Group, Inc. (GS) shares is set for a breakout today as the firm smashes Q1 Estimates leading to a 2.45% surge in Monday's premarket trading.

Reports Overview
Goldman Sachs delivered a strong first-quarter performance, beating Wall Street expectations on both earnings and revenue, thanks to a record-setting quarter in equities trading. The bank posted earnings of $14.12 per share versus an expected $12.35, with revenue reaching $15.06 billion compared to forecasts of $14.81 billion.

Financial Performance
In 2024, The Goldman Sachs Group's revenue was $52.16 billion, an increase of 15.34% compared to the previous year's $45.23 billion. Earnings were $13.48 billion, an increase of 71.52%.

Analyst Forecast
According to 16 analysts, the average rating for GS stock is "Buy." The 12-month stock price forecast is $593.43, which is an increase of 20.02% from the latest price.

Technical Outlook
Prior our last analysis on GS stock, the asset is already approaching the short term resistant point and a break above that pivot would cement the path for a bullish campaign for GS shares . As hinted by the RSI at 43, GS shares has more room to capitalize on the dip and pull on a bullish campaign today.

All eyes are set on the $520 level, should GS shares break that pivot, a bullish breakout might be inevitable.