The Goldman Sachs Group Increases Piper Sandler Companies (NYSE:PIPR) Price Target to $330.00

Piper Sandler Companies (NYSE:PIPR) had its price objective upped by stock analysts at The Goldman Sachs Group from $298.00 to $330.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 3.19% from the company’s previous close.

Other analysts have also recently issued research reports about the company. StockNews.com cut 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.

Piper Sandler Companies Trading Up 1.0 %

NYSE PIPR opened at $319.81 on Monday. Piper Sandler Companies has a 1 year low of $177.80 and a 1 year high of $351.80. The company has a market cap of $5.69 billion, a PE ratio of 31.29 and a beta of 1.46. The stock’s 50-day moving average price is $302.86 and its two-hundred day moving average price is $314.09.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company earned $4.03 EPS. Research analysts forecast that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. West Oak Capital LLC lifted its holdings in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares during the last quarter. Allworth Financial LP lifted 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 purchasing an additional 160 shares during the last quarter. USA Financial Formulas acquired a new position in Piper Sandler Companies during the third quarter valued at approximately $77,000. Finally, GAMMA Investing LLC lifted its stake in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after buying an additional 60 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Company Profile

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.