The Goldman Sachs Group Forecasts Strong Price Appreciation for Piper Sandler Companies (NYSE:PIPR) Stock

Piper Sandler Companies (NYSE:PIPR) had its price target raised by analysts at The Goldman Sachs Group from $298.00 to $330.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 5.94% from the stock’s current price.

A number of other analysts have also commented on the company. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Down 1.8 %

Shares of PIPR traded down $5.63 on Monday, hitting $311.51. The company’s stock had a trading volume of 36,670 shares, compared to its average volume of 91,413. The business has a fifty day moving average of $301.34. Piper Sandler Companies has a fifty-two week low of $177.80 and a fifty-two week high of $351.80. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 30.40 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same quarter in the prior year, the business earned $4.03 earnings per share. Sell-side analysts expect that Piper Sandler Companies will post 13.47 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Piper Sandler Companies by 0.3% during the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after purchasing an additional 2,137 shares in the last quarter. FMR LLC grew its stake in shares of Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after buying an additional 205,584 shares in the last quarter. Geode Capital Management LLC increased its holdings in Piper Sandler Companies by 2.0% during the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC raised its position in Piper Sandler Companies by 3.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock worth $64,355,000 after acquiring an additional 6,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after acquiring an additional 2,689 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Company Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.