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Piper Sandler Companies (NYSE:PIPR) Upgraded by Wolfe Research to Outperform Rating

Piper Sandler Companies logo with Finance background

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was upgraded by stock analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued on Thursday,Benzinga reports. The brokerage presently has a $339.00 target price on the financial services provider's stock. Wolfe Research's price target suggests a potential upside of 17.23% from the company's current price.

PIPR has been the topic of several other reports. The Goldman Sachs Group decreased their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th.

View Our Latest Report on PIPR

Piper Sandler Companies Trading Up 1.5%

Shares of Piper Sandler Companies stock opened at $289.18 on Thursday. The company has a market cap of $5.14 billion, a PE ratio of 25.28 and a beta of 1.48. The business's 50-day simple moving average is $263.13. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The company had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same quarter in the prior year, the company posted $2.79 earnings per share. Piper Sandler Companies's revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Piper Sandler Companies by 131.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider's stock worth $27,000 after buying an additional 62 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Piper Sandler Companies in the first quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Piper Sandler Companies by 495.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Piper Sandler Companies during the first quarter worth about $37,000. Finally, Geneos Wealth Management Inc. raised its holdings in Piper Sandler Companies by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 170 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

About Piper Sandler Companies

(Get Free Report)

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.

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