Positive Report for HSBC Holdings (HSBA) from Goldman Sachs

HSBC Holdings received a Buy rating and a p1,675.00 price target from Goldman Sachs analyst Chris Hallam yesterday. The company’s shares closed yesterday at p1,197.60.

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According to TipRanks, Hallam is a top 100 analyst with an average return of 25.5% and a 74.59% success rate. Hallam covers the Financial sector, focusing on stocks such as Barclays, Deutsche Bank AG, and HSBC Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HSBC Holdings with a p1,402.65 average price target.

Based on HSBC Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p33.73 billion and a net profit of p4.73 billion. In comparison, last year the company earned a revenue of p58.73 billion and had a net profit of p6.53 billion

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HSBA in relation to earlier this year.