Freedom Broker's double upgrade is a contrarian call against a consensus-aligned call from a moderately accurate firm, but the negative EPS revisions and high short interest suggest caution. Traders should treat this as a cautious bullish signal given the divergence between analyst upgrades and negative earnings momentum and elevated short interest.
Price Chart
Executive Summary
Freedom Broker double-upgraded Goldman Sachs (GS) from Hold to Buy on October 23, 2026, setting a $1,100 price target, implying 23.4% upside from the current $891.30. The firm has a 66% accuracy rate on 68 calls with an average return of 11.8%. Consensus on GS is mixed: 15 Buy (including Strong Buy), 16 Hold, and 1 Strong Sell among 32 analysts. The mean price target is $1,038.18, with a high of $1,250 and a low of $730. Freedom Broker's new $1,100 target is above the consensus mean and median ($1,010). Analyst momentum is positive with 2 upgrades and 0 downgrades in the last 30 days, though EPS revisions over 30 days show 16 downward revisions for the current fiscal year versus 0 upward. Congressional trades show three buys from Rep. Dave McCormick totaling $400K–$850K in August 2026, while insider trades show four sells by director Ericka T. Leslie totaling ~$805K in August. Short interest is elevated at 55.3% of off-exchange volume. The upgrade is a contrarian call from a moderately accurate firm against a backdrop of downward estimate revisions, making the signal worth monitoring but not a high-conviction trigger.
Impact Score
Consensus & Targets
Among 32 analysts covering GS, 15 rate it Buy (6 Strong Buy, 9 Buy), 16 Hold, and 1 Strong Sell. The consensus is tilted toward Hold, making Freedom Broker's upgrade a contrarian move against the majority neutral stance.
Current price is $891.30. Mean target is $1,038.18 (16.5% upside), median $1,010 (13.3% upside). High target is $1,250, low $730. Freedom Broker's $1,100 target is above the mean and median, ranking in the top quartile of analyst targets.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-10-23 | Freedom Broker | upgrade | Buy | $1,100.00 |
| 2026-10-19 | BMO Capital | maintain | Market Perform | $950.00 |
| 2026-10-16 | JP Morgan | maintain | Neutral | $970.00 |
| 2026-10-14 | Citigroup | maintain | Neutral | $1,000.00 |
| 2026-10-14 | Keefe, Bruyette & Woods | maintain | Market Perform | — |
| 2026-10-14 | RBC Capital | maintain | Sector Perform | $1,010.00 |
| 2026-10-08 | TD Cowen | initiate | Buy | $1,050.00 |
| 2026-10-06 | BMO Capital | maintain | Market Perform | $970.00 |
| 2026-10-05 | UBS | maintain | Neutral | — |
| 2026-10-01 | Evercore ISI Group | maintain | Outperform | $1,000.00 |
In the last 30 days, GS has seen 2 upgrades and 0 downgrades. However, EPS estimate revisions are negative: 16 downward revisions for the current fiscal year vs. 0 upward, and 5 downward for the next quarter vs. 1 upward. The trend is bearish on earnings despite bullish analyst actions.
Firm Track Record — Freedom Broker
Freedom Broker accuracy: 66% on 68 calls | avg return: 11.8%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 14 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| BMO Capital | 100% | 3/3 | 16.6% | top tier |
| B of A Securities | 100% | 2/2 | 21.9% | top tier |
| Citigroup | 100% | 6/6 | 14.9% | top tier |
| Evercore ISI Group | 100% | 8/8 | 15.1% | top tier |
| RBC Capital | 100% | 5/5 | 17% | top tier |
| Morgan Stanley | 90% | 9/10 | 11% | top tier |
| Wells Fargo | 88% | 7/8 | 13.6% | top tier |
| UBS | 80% | 4/5 | 1% | top tier |
| Keefe, Bruyette & Woods | 75% | 6/8 | 6.9% | top tier |
| JMP Securities | 75% | 3/4 | 22.9% | top tier |
Freedom Broker has a 66% accuracy rate on 68 calls with an 11.8% average return, placing it in the middle tier among firms covering GS. Top performers include BMO Capital, B of A Securities, Citigroup, Evercore ISI, and RBC Capital, each with 100% accuracy on small samples. The weakest is HSBC at 50% on 4 calls.
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| +1q | $19.23 | $16.80 — $21.32 | $18.9B | ↑1 ↓0 |
| 0y | $71.11 | $67.70 — $74.46 | $72.8B | ↑0 ↓0 |
| 0q | $15.65 | $13.44 — $18.45 | $17.6B | ↑2 ↓0 |
| +1y | $74.28 | $65.57 — $80.50 | $73.9B | ↑3 ↓0 |
Cross-Platform Signals
Congressional trades show three buys by Rep. Dave McCormick (R-PA) totaling $400K–$850K in buys in August 2026, a bullish signal. Insider trades show four sells by director Ericka T. Leslie totaling ~$805K in August 2026 — a weak bearish signal per academic literature. Institutional activity is mixed: two large adds (Concurrent Investment Advisors +30.3%, ABN AMRO +27.7%) and one double (Assenagon +192.4%), but also a near-exit (Ninety One -98.8%) and a trim (Allianz -35.4%). Short interest is elevated at 55.3% of off-exchange volume, indicating bearish positioning. The analyst upgrade diverges from the short interest and negative EPS revisions.
Investment Themes
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | ANALYST-UPGRADE | $877.07 | awaiting T+1 | — | $893.28 (+1.85%) |
Oct 22, 2026 4d ago | 144 | $875.68 $893.28 | ▲ +2.01% | ▲ +1.30% | $893.28 (+2.01%) |
Oct 14, 2026 13d ago | Court Ruling | $891.28 $881.26 | ▼ −1.12% | ▼ −0.02% | $893.28 (+0.22%) |
Oct 13, 2026 13d ago | 8-K | $891.91 $878.72 | ▼ −1.48% | ▼ −0.40% | $893.28 (+0.15%) |
Oct 8, 2026 18d ago | ANALYST-UPGRADE | $882.59 $895.32 | ▲ +1.44% | ▲ +0.84% | $893.28 (+1.21%) |
Oct 1, 2026 25d ago | DEFA14A | $902.56 $893.46 | ▼ −1.01% | ▼ −1.68% | $893.28 (−1.03%) |
Sep 10, 2026 6w ago | Court Ruling | $1,029.18 $988.45 | ▼ −3.96% | ▼ −3.51% | $893.28 (−13.20%) |
Aug 14, 2026 10w ago | 13F-HR | $1,051.31 $1,040.47 | ▼ −1.03% | ▼ −0.36% | $893.28 (−15.03%) |
Jul 21, 2026 14w ago | GOVT-CONTRACT | $1,092.85 $1,069.48 | ▼ −2.14% | ▼ −0.90% | $893.28 (−18.26%) |
Jul 20, 2026 14w ago | 8-K | $1,055.03 $1,085.56 | ▲ +2.89% | ▲ +2.06% | $893.28 (−15.33%) |
US Market Status
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