Piper Sandler Companies (NYSE:PIPR) Price Target Raised to $330.00

Piper Sandler Companies (NYSE:PIPR) had its target price lifted by research 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 price target would suggest a potential upside of 3.19% from the company’s current price.

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

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $319.81 on Monday. The firm’s 50-day moving average is $302.86 and its 200-day moving average is $314.09. Piper Sandler Companies has a 52-week low of $177.80 and a 52-week high of $351.80. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 31.29 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 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 period in the previous year, the business posted $4.03 earnings per share. Equities analysts predict that Piper Sandler Companies will post 13.47 EPS for the current year.

Hedge Funds Weigh In On Piper Sandler Companies

A number of large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Piper Sandler Companies by 0.3% in the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after acquiring an additional 2,137 shares during the last quarter. FMR LLC lifted its position in Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 7,344 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of Piper Sandler Companies by 3.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 214,554 shares of the financial services provider’s stock worth $64,355,000 after buying an additional 6,970 shares during the period. Finally, Charles Schwab Investment Management Inc. raised 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 worth $58,245,000 after buying an additional 2,689 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

About Piper Sandler Companies

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.