GS: Unprofitable growth stocks to remain under pressure from higher interest rates

Recent years have seen the performance of unprofitable growth stocks heavily influenced by the trajectory of inflation and interest rates.

“Unprofitable growth stock EV/Sales multiples have compressed from 14x in 2021 to 4x today, but this change appears appropriate in relationship to the shift in the interest rate environment,” Goldman strategists said in a recent note. “This dynamic has made valuations for unprofitable growth stocks more sensitive to changes in interest rates relative to their profitable peers,” Goldman’s team noted.

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GS: Unprofitable growth stocks to remain under pressure from higher interest ratesGS: Unprofitable growth stocks to remain under pressure from higher interest rates
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