The Goldman Sachs Group Cuts Piper Sandler Companies (NYSE:PIPR) Price Target to $286.00

by · The Markets Daily

Piper Sandler Companies (NYSE:PIPR – Get Free Report) had its price objective dropped by stock analysts at The Goldman Sachs Group from $321.00 to $286.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 12.37% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Read Our Latest Analysis on PIPR

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock traded up $2.48 during trading hours on Friday, reaching $254.51. The company had a trading volume of 74,085 shares, compared to its average volume of 105,096. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The business has a fifty day simple moving average of $282.87 and a 200 day simple moving average of $299.17. The firm has a market cap of $4.51 billion, a PE ratio of 24.90 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR – Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating 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 business earned $4.03 earnings per share. On average, research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Institutional Trading of Piper Sandler Companies

Several large investors have recently modified their holdings of PIPR. IFP Advisors Inc boosted its position in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 131 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Piper Sandler Companies in the 4th quarter worth $45,000. Lazard Asset Management LLC purchased a new stake in shares of Piper Sandler Companies in the 4th quarter worth $51,000. Allworth Financial LP boosted its holdings in Piper Sandler Companies by 238.8% in the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after buying an additional 160 shares during the period. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at about $73,000. 72.79% of the stock is owned by institutional investors.

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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