The Goldman Sachs Group Issues Pessimistic Forecast for Piper Sandler Companies (NYSE:PIPR) Stock Price

Piper Sandler Companies (NYSE:PIPR) had its price target dropped by equities researchers at The Goldman Sachs Group from $461.00 to $392.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 40.27% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Bank of America started coverage on shares of Piper Sandler Companies in a research report on Monday, January 26th. They issued an “underperform” rating and a $385.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. Wolfe Research reissued an “outperform” rating and set a $398.00 price target on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Tuesday, February 24th. Finally, Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 target price on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $381.25.

Piper Sandler Companies Stock Down 3.7%

Shares of PIPR stock traded down $10.64 on Thursday, reaching $279.47. The company’s stock had a trading volume of 108,449 shares, compared to its average volume of 172,689. The company has a market capitalization of $4.98 billion, a P/E ratio of 17.67, a PEG ratio of 1.60 and a beta of 1.54. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $380.26. The stock’s 50 day simple moving average is $337.11 and its 200-day simple moving average is $338.27.

Piper Sandler Companies’s stock is set to split before the market opens on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly created shares will be payable to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.72 by $2.16. Piper Sandler Companies had a return on equity of 21.85% and a net margin of 14.77%.The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. During the same period in the prior year, the business earned $4.80 EPS. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year.

Insiders Place Their Bets

In other news, President Debbra L. Schoneman sold 5,240 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total value of $1,839,187.60. Following the sale, the president directly owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. The trade was a 64.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PIPR. AQR Capital Management LLC lifted its holdings in shares of Piper Sandler Companies by 20.7% in the 1st quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock valued at $1,380,000 after purchasing an additional 956 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Piper Sandler Companies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the company’s stock valued at $2,563,000 after buying an additional 473 shares during the period. United Services Automobile Association purchased a new position in Piper Sandler Companies in the first quarter valued at about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Piper Sandler Companies by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the company’s stock worth $10,977,000 after buying an additional 177 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Piper Sandler Companies by 46.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock valued at $42,000 after acquiring an additional 54 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.