Did Jim Cramer Hit or Miss On These 13 Stock Predictions?

3. The Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders: 81

The Goldman Sachs Group, Inc. (NYSE:GS), the investment banking powerhouse, was the focus of a technical analysis segment where Cramer and Dan Fitzpatrick made the case for more upside after a strong earnings report. Here’s what Jim Cramer said at the time:

“Goldman Sachs hit a new all-time high today and the stock stands poised to go a lot higher. It certainly doesn’t hurt that Goldman reported a great quarter a couple of weeks ago with capital markets activity making a big comeback. You know we have a lot of IPOs these days. These guys were able to make a lot of money even when IPOs and equity offerings and mergers had dried up; all key revenue sources. So you can only imagine how profitable Goldman’s going to get now these areas have started turning around. […] Goldman gives you more exposure to the resurrection of the investment banking business but it’s also back once again emphasizing the wealthy client advisory business. […]

Fitzpatrick points out that Goldman stock has been in a basing pattern for two and a half years. It’s just stuck in an admittedly broad trading range basically drifting sideways. […] According to Fitzpatrick that’s a good thing though because well, this is what it looks like when a stock builds a base and eventually that base can turn into a trampoline. You reach a point where anybody who was going to sell at the high end of the range has already sold so once buyers start getting really interested then the stock can soar.”

Cramer’s analysis was spot on, as the financials giant soared by 29.72% since then.

The Mad Money host keeps advocating for Goldman Sachs Group, Inc. (NYSE:GS). Here’s what he said on April 23:

“… My Charitable Trust owns Goldman. When I’ve seen Goldman this cheap and I know how good they are, worked there at one time, I gotta tell you, I think Goldman, at 11.8 times earnings, is the way to go.”