Dec. 24, 2025 — Goldman Sachs Group, Inc. (NYSE: GS) is ending the year on a powerful note, trading around $909 in Wednesday’s holiday-shortened session. The stock is up roughly 0.8% versus the prior close and has traded between about $899 and $910 intraday, reflecting steady demand even as volumes thin out ahead of Christmas.
With U.S. markets closing early on Christmas Eve (1:00 p.m. ET), price moves can look calmer—or sharper—than usual as liquidity fades. Investors reading too much into a single half-day tape should keep the shortened schedule in mind. [1]
Still, the bigger picture is hard to ignore: Goldman’s shares are within about 1% of a 52-week high near $919, capping a standout 2025 run for U.S. banking heavyweights. [2]
Why Goldman Sachs stock is in focus on Dec. 24, 2025
Goldman is not moving on one headline today. Instead, the stock is being supported by a year-end narrative that has been building for months:
- A rebound in investment banking activity, particularly M&A and underwriting, which tends to disproportionately benefit a franchise like Goldman.
- Strong trading conditions across the industry (and expectations that they remain resilient into 2026).
- A market backdrop increasingly shaped by shifting regulatory expectations and a still-evolving interest-rate outlook.
A Financial Times analysis published today captures the tone: America’s largest banks added about $600 billion in market value in 2025, helped by a rebound in investment banking and a deregulatory push—conditions that investors have treated as supportive for profitability and shareholder payouts. Goldman, specifically, is described as having surged nearly 60% in 2025 on the back of booming investment banking and trading revenues. [3]
That context matters because it frames Goldman as more than “just another bank stock.” Many investors increasingly treat GS as a liquid proxy for the global deals-and-capital-markets cycle—and into year-end, the market has been positioning for a potentially constructive 2026.
The latest Goldman Sachs news driving investor interest
Goldman plans to ramp up Japan deal investments over the next decade
One of the most concrete, company-specific developments dated Dec. 24, 2025 comes from Japan: Goldman is planning to expand acquisitions and investments in Japan’s corporate deals market by about ¥800 billion (around $5.1 billion) over the coming decade, focusing on mid-sized firms and deal themes such as management buyouts, subsidiary sales, and succession planning. [4]
Strategically, this is notable for GS shareholders for two reasons:
- Japan has become one of the world’s most active corporate transaction markets amid governance reforms and a stronger push toward shareholder returns.
- Goldman is signaling it wants to be early and consistent in building a pipeline beyond “headline megadeals,” where competition can be brutal and fees get compressed.
If that plan converts into a steadier stream of advisory and private-capital opportunities, it can support the “durable fee engine” narrative bulls have been leaning into.
Investment banking teams are being reshaped for AI and digital infrastructure deals
In mid-December, Reuters reported Goldman was restructuring its Technology, Media and Telecom investment banking division to align with opportunities in digital infrastructure and AI—two areas increasingly tied to the next wave of M&A and capex-driven financing activity. [5]
Then came another talent signal: Reuters also reported Goldman hired Brian Cayne, co-founder of Qatalyst Partners, as a global co-head of its software investment banking group (starting in January 2026), strengthening its competitive stance in software advisory. [6]
For the stock, these aren’t “overnight” catalysts—but they reinforce a longer-term point: Goldman is positioning its advisory franchise where CEOs are spending (and buying) next.
Fundamentals check: What Goldman reported most recently
Goldman’s latest full quarterly snapshot remains its third-quarter 2025 results, released Oct. 14. The company reported:
- Net revenues:$15.18 billion
- Net earnings:$4.10 billion
- Diluted EPS:$12.25
- Annualized ROE:14.2% [7]
Reuters’ coverage of those results highlighted that the rebound in dealmaking meaningfully lifted profitability: investment banking fees rose 42% to about $2.66 billion, and Goldman cited advising on around $1 trillion in announced M&A volume. [8]
This matters now because the market is still using Q3 as proof that “the machine is working again” across:
- advisory and underwriting,
- asset & wealth management fee strength,
- and a trading platform that stays relevant even outside crisis regimes.
Dividend and capital return: The steady “floor” under GS
Goldman’s board declared a $4.00 quarterly dividend that is payable Dec. 30, 2025 to shareholders of record on Dec. 2, 2025. [9]
At today’s roughly $909 share price, that annualizes to $16 per share, implying a dividend yield of about 1.8% (with the usual caveat that yields move as prices move). [10]
For many investors, the dividend is not the primary reason to own GS—but in a high-price, late-cycle-feeling market, it helps frame the stock as a blend of growth cyclicality (M&A/trading) and shareholder return discipline.
Goldman Sachs stock forecast: What analysts are projecting heading into 2026
The most important message from today’s consensus data: Wall Street is not uniformly chasing the stock at these levels, even after its strong 2025 performance.
The consensus: “Hold”-leaning, with targets often below the current price
Several analyst aggregation services currently show an overall Hold tilt, with average price targets below where GS trades today:
- MarketBeat lists a consensus price target around $792.67 and a consensus stance that’s broadly Hold-skewed. [11]
- Nasdaq (citing one-year targets as of early December) reported an average target around $807.85, with forecasts ranging from roughly $614 to $943—implying downside versus then-current prices. [12]
- TipRanks shows an average price target around $841 (methodologies and analyst counts vary across platforms). [13]
With GS at roughly $909, those averages imply something important: the stock has run ahead of the middle-of-the-road forecast. That doesn’t mean “sell,” but it does mean many analysts appear to be asking for either (a) more earnings upside, or (b) a better entry point.
Recent price-target moves: higher targets, but not always “Buy” ratings
Two notable updates from December illustrate the push-pull dynamic:
- RBC raised its target to $900 from $843 while keeping a Sector Perform stance, according to reporting aggregated by MarketBeat/MarketScreener. [14]
- Keefe, Bruyette & Woods (KBW) raised its target to $971 from $870 while maintaining Market Perform, per multiple reports. [15]
In other words: targets are rising, but in several cases ratings remain “market perform”-style rather than outright bullish upgrades—consistent with a stock that’s already pricing in a lot of good news.
The next big catalyst: Goldman’s Jan. 15, 2026 earnings date
The next major scheduled event for GS shareholders is the company’s fourth-quarter 2025 earnings release, set for Thursday, Jan. 15, 2026, with details communicated by the firm in December. [16]
That report will matter not just for headline EPS, but for the forward-looking read on:
- M&A backlog conversion (are announced deals closing on schedule?),
- underwriting momentum (equity and debt issuance),
- trading normalization (whether 2025’s strength is repeating),
- and expense discipline, especially as the industry invests heavily in AI-related infrastructure and talent.
Macro backdrop on Dec. 24: Rate-cut expectations and the “2026 setup”
Today’s macro tape is also shaping financials sentiment. Reuters reported the U.S. dollar is on pace for its worst year since 2003, as markets anticipate further Federal Reserve cuts in 2026; the report notes Goldman Sachs forecasts two 25-basis-point cuts next year. [17]
For Goldman stock, rates can cut two ways:
- Lower rates can support risk assets, spark issuance, and help deal confidence.
- But lower yields can pressure certain banking revenue lines and reshape the trading environment.
This is why Jan. earnings guidance and management commentary may matter more than the Q4 number itself.
Risks to watch: What could derail GS after a big run
Even a best-in-class franchise like Goldman faces risk factors that can show up quickly in the stock:
- Dealmaking is cyclical. A macro shock, geopolitical flare-up, or financing freeze can pause M&A and IPO calendars fast.
- Trading revenue is volatile. A quiet market can compress FICC/equities trading; a chaotic market can boost revenues—but also raise risk.
- Regulatory direction can change. The 2025 rally narrative has included expectations of a friendlier regulatory framework; that’s inherently political and can reverse. [18]
- Valuation sensitivity. When a stock is near highs and above many consensus targets, it can become more sensitive to “good but not great” quarters.
Bottom line: What Goldman Sachs stock is signaling heading into 2026
As of Dec. 24, 2025, Goldman Sachs stock is behaving like a market that believes in the 2026 deal-cycle story—but also recognizes that a lot of optimism is now embedded in the price.
- The stock is near its 52-week high and up strongly in 2025. [19]
- Company news flow supports the strategic narrative: Japan expansion, AI/digital infrastructure advisory focus, and high-profile banking talent additions. [20]
- Analyst forecasts are mixed, with many average targets still below the current price—suggesting the next leg higher may require either a strong earnings beat, a bullish 2026 outlook, or a market-wide re-rating of financials. [21]
If you’re watching GS into year-end, the practical roadmap is straightforward: holiday liquidity today, earnings on Jan. 15, and deal/trading signals that set the tone for Q1 2026. [22]
References
1. www.nyse.com, 2. in.marketscreener.com, 3. www.ft.com, 4. www.investmentnews.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.goldmansachs.com, 8. www.reuters.com, 9. www.goldmansachs.com, 10. www.goldmansachs.com, 11. www.marketbeat.com, 12. www.nasdaq.com, 13. finance.yahoo.com, 14. www.marketbeat.com, 15. www.tipranks.com, 16. www.goldmansachs.com, 17. www.reuters.com, 18. www.ft.com, 19. in.marketscreener.com, 20. www.investmentnews.com, 21. www.marketbeat.com, 22. www.goldmansachs.com
