Piper Sandler Companies (NYSE:PIPR) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Piper Sandler Companies (NYSE:PIPR - Get Free Report) had its price target raised by stock analysts at The Goldman Sachs Group from $298.00 to $330.00 in a research report issued 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 3.25% from the stock's previous close.

Several other research firms have also weighed in on PIPR. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday. StockNews.com lowered shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR traded down $4.06 during mid-day trading on Monday, reaching $319.62. 96,149 shares of the company traded hands, compared to its average volume of 93,891. Piper Sandler Companies has a fifty-two week low of $177.80 and a fifty-two week high of $351.80. The firm has a market cap of $5.68 billion, a PE ratio of 31.27 and a beta of 1.46. The stock has a fifty day simple moving average of $303.79 and a 200-day simple moving average of $314.55.

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 EPS for the quarter, topping analysts' consensus estimates 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 prior year, the firm posted $4.03 EPS. As a group, analysts predict that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock valued at $177,395,000 after buying an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new position in Piper Sandler Companies during the 3rd quarter valued at about $14,645,000. Proficio Capital Partners LLC purchased a new position in Piper Sandler Companies during the 4th quarter valued at about $8,097,000. Barclays PLC lifted 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 worth $9,174,000 after purchasing an additional 24,388 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Piper Sandler Companies in the third quarter worth approximately $6,106,000. Institutional investors and hedge funds own 72.79% of the company's stock.

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.