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

Piper Sandler Companies (NYSE:PIPR) had its target price decreased by research analysts at The Goldman Sachs Group from $321.00 to $286.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 12.37% from the stock’s current price.

A number of other equities analysts have also commented on PIPR. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR traded up $2.48 during mid-day trading on Friday, hitting $254.51. 74,085 shares of the company’s stock traded hands, compared to its average volume of 105,096. The company’s 50-day moving average is $282.87 and its two-hundred day moving average is $299.17. The company has a market capitalization of $4.51 billion, a P/E ratio of 24.90 and a beta of 1.46. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period last year, the company posted $4.03 EPS. Equities analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently modified their holdings of PIPR. Cerity Partners LLC lifted its stake in shares of Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after buying an additional 2,819 shares during the period. Barclays PLC grew its position in shares of Piper Sandler Companies by 307.2% in the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 242 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Piper Sandler Companies by 1.3% in 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 purchasing an additional 2,689 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Piper Sandler Companies in the third quarter valued at about $624,000. 72.79% of the stock is currently owned by institutional investors.

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.