The Goldman Sachs Group Has Lowered Expectations for Piper Sandler Companies (NYSE:PIPR) Stock Price

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

PIPR has been the subject of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday, January 23rd. Wall Street Zen raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Tuesday, February 24th. Northland Securities raised shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 target price on the stock in a report on Wednesday, March 4th. Bank of America started coverage on Piper Sandler Companies in a research note on Monday, January 26th. They issued an “underperform” rating and a $385.00 price target for the company. Finally, Zacks Research upgraded shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Piper Sandler Companies presently has an average rating of “Moderate Buy” and an average target price of $381.25.

Piper Sandler Companies Price Performance

Shares of PIPR traded down $10.64 during trading hours on Thursday, reaching $279.47. 108,449 shares of the company’s stock traded hands, compared to its average volume of 172,689. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.60 and a beta of 1.54. The business’s fifty day simple moving average is $337.11 and its two-hundred day simple moving average is $338.27. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $380.26.

Piper Sandler Companies shares are set to split on the morning of Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly issued shares will be payable to shareholders after the closing bell on Monday, March 23rd.

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

Insider Transactions at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 5,240 shares of the firm’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 completion of the transaction, the president owned 2,896 shares of the company’s stock, valued at approximately $1,016,467.04. This trade represents a 64.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC lifted its holdings in shares of Piper Sandler Companies by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,202 shares of the company’s stock valued at $408,000 after buying an additional 172 shares during the period. Bayban purchased a new stake in Piper Sandler Companies during the fourth quarter valued at about $707,000. Caitong International Asset Management Co. Ltd increased its stake in Piper Sandler Companies by 544.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 174 shares of the company’s stock worth $59,000 after acquiring an additional 147 shares during the last quarter. DGS Capital Management LLC purchased a new position in shares of Piper Sandler Companies in the 4th quarter worth about $313,000. Finally, Virtu Financial LLC grew its holdings in shares of Piper Sandler Companies by 384.4% during the 4th quarter. Virtu Financial LLC now owns 6,442 shares of the company’s stock worth $2,188,000 after purchasing an additional 5,112 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.