Goldman Sachs Starts Coverage on Sony Group Shares

On Tuesday, The Goldman Sachs Group announced that it has begun covering shares of Sony Group (NYSE:SONY). In their research note, they assigned a "buy" rating, indicating a positive outlook for the company.

Analysts from other brokerages have also recently provided insights on Sony Group. On January 16th, Sanford C. Bernstein introduced coverage with an "outperform" rating. On February 25th, StockNews.com downgraded Sony from a "buy" to a "hold" rating. Meanwhile, Oppenheimer reaffirmed its "outperform" rating, raising its target price for the stock from $25.00 to $33.00...

Current Stock Performance

As of the latest trading session, shares of SONY saw a slight decline of 0.5%, dropping $0.12, and reaching a price of $25.16. On this day, 389,139 shares changed hands, a fraction of its average volume of 3,905,282. The stock has been showing a positive trend with a 50-day simple moving average of $23.18 and a 200-day simple moving average of $19.11.

Recent Earnings Report

Sony Group released its most recent quarterly earnings on February 13th, reporting earnings per share (EPS) of $0.41 for the quarter. This surpassed analysts' expectations, who had forecasted an EPS of $0.27. The company recorded a revenue of $28.95 billion, exceeding the anticipated $24.32 billion.

Institutional Holdings

Recent data indicates that several institutional investors have significantly increased their holdings in Sony Group. For instance, Primecap Management Co. CA has grown its stake by 379.5%. Other notable investors include Aristotle Capital Management LLC, which boosted its share count by 393.7%, and Fisher Asset Management LLC, which raised its position by 425.9%. Overall, institutional investors hold 14.05% of the company's stock.

About Sony Group

Sony Group Corporation is involved in designing, developing, producing, and selling electronic equipment and devices for a variety of markets, including consumer and industrial sectors across Japan, the U.S., Europe, China, and other regions. Their offerings include software distribution through digital networks and home gaming consoles.

Sony, Stocks, Goldman