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

Piper Sandler Companies (NYSE:PIPR) had its price target upped by investment analysts at The Goldman Sachs Group from $298.00 to $330.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 5.94% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday.

Piper Sandler Companies Price Performance

PIPR stock traded down $5.63 during trading on Monday, reaching $311.51. 36,670 shares of the stock were exchanged, compared to its average volume of 91,413. Piper Sandler Companies has a twelve month low of $177.80 and a twelve month high of $351.80. The firm has a market capitalization of $5.54 billion, a P/E ratio of 30.40 and a beta of 1.46. The business’s 50 day simple moving average is $301.34.

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

Institutional Trading of Piper Sandler Companies

Several large investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Piper Sandler Companies by 0.3% during the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after purchasing an additional 2,137 shares during the last quarter. FMR LLC boosted its position in Piper Sandler Companies by 49.0% in the 3rd 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after buying an additional 7,344 shares during the period. Stephens Investment Management Group LLC raised its position in shares of 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Piper Sandler Companies by 1.3% during 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 period. 72.79% of the stock is owned by institutional investors.

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.