When every major bank on Wall Street lands on the exact same number for where the S&P 500 is headed, it’s either a remarkable coincidence or a remarkable case of groupthink. Right now, the magic number is 8,000.
Goldman Sachs bumped its year-end S&P 500 target to 8,000 from 7,600 on May 27, joining Deutsche Bank and JPMorgan’s bullish scenario at the same level. The index is trading around 5,900 as of recent sessions, which means these forecasts imply meaningful upside.
The earnings story behind the number
Goldman’s upgrade wasn’t pulled from thin air. The firm raised its 2026 earnings per share forecast to $340, which would represent a 24% year-over-year increase. That’s aggressive, but it’s anchored in what the bank describes as strong first-quarter corporate results and momentum in profit growth.
Looking further out, Goldman projects EPS of $385 for 2027. Aggregate bottom-up analyst targets compiled by FactSet stood at roughly 7,969 as of late 2025. Earlier 2026 consensus averages hovered around 7,459, meaning the street has collectively ratcheted expectations higher over the past several months.
