Jim Cramer’s Exclusive List: 10 Stocks to Monitor Closely

7. Goldman Sachs Group Inc. (NYSE:GS)

Number of Hedge Fund Investors: 68

Jim Cramer believes that the stock price of Goldman Sachs Group, Inc. (NYSE:GS) is currently overvalued. He’s concerned that the lack of IPOs and mergers and acquisitions (M&As) might be due to the upcoming election, which could be freezing business activity. He’s waiting for other companies to release their financial results before making a significant investment in Goldman Sachs Group, Inc. (NYSE:GS), even though he admires the company.

“I want to wait till numbers come down from others. I was a little surprised that Goldman Sachs didn’t see more capital markets activity. I got to tell you, David Faber and I were talking about where are the IPOs? It’s September. Where are the M&As? I think that maybe the election has everything frozen. But that means Goldman Sachs’ stock numbers are too high, and therefore I don’t want to make a big commitment to the stock right here, even though I love the company.”

Goldman Sachs Group, Inc. (NYSE:GS) is a strong investment choice based on its recent performance and future plans. In Q2 2024, Goldman Sachs Group, Inc. (NYSE:GS) achieved significant financial results, with revenue hitting $12.63 billion and net income rising to $3.32 billion, a 15% increase from the previous year. This growth is largely due to Goldman Sachs Group, Inc. (NYSE:GS)’s success in investment banking and asset management. Goldman Sachs Group, Inc. (NYSE:GS) is also expanding its reach into digital banking and fintech, particularly with its growing Marcus platform. This expansion is positioning  Goldman Sachs Group, Inc. (NYSE:GS) to benefit from the increasing demand for digital banking services.

Moreover, Goldman Sachs Group, Inc. (NYSE:GS) has shown strong resilience during recent market fluctuations, thanks to its well-diversified business and solid risk management strategies. The decision to boost its share repurchase program by $2 billion further demonstrates Goldman Sachs Group, Inc. (NYSE:GS)’s confidence in its financial health and future prospects. Overall, these factors point to a positive outlook for Goldman Sachs Group, Inc. (NYSE:GS), suggesting it has strong potential for continued growth and profitability.