Thu Sep 19 06:55:10 UTC 2024: ## Piper Sandler Companies Maintains “Market Perform” Rating Amid Strong Earnings
**New York, NY – September 19, 2024** – JMP Securities has reaffirmed its “Market Perform” rating for Piper Sandler Companies (NYSE: PIPR), according to a research note released on Tuesday morning. This comes on the heels of the financial services provider exceeding analysts’ expectations with its recent quarterly earnings report.
Piper Sandler Companies reported earnings per share (EPS) of $2.52 for the quarter ending August 2nd, surpassing analysts’ estimates by $0.26. The company also recorded revenue of $357 million, beating the expected $338.90 million.
Despite the positive performance, the “Market Perform” rating suggests that analysts believe the stock is likely to perform in line with the overall market.
Shares of PIPR opened at $275.37 on Tuesday, with a one-year low of $130.89 and a one-year high of $282.75. The company boasts a market capitalization of $4.87 billion and a PE ratio of 46.83.
Recent insider trading activity has seen Director Philip Soran sell 1,792 shares on August 21st, while insider Jonathan J. Doyle sold 12,695 shares on August 5th. This suggests that some insiders may be taking profits amidst the strong performance.
Meanwhile, institutional investors remain optimistic about Piper Sandler Companies. Bank of Montreal Can, Xponance Inc., Commonwealth Equity Services LLC, Oliver Luxxe Assets LLC, and Parallel Advisors LLC have all increased their holdings in the company during recent quarters. Institutional investors and hedge funds currently own 72.79% of the company’s stock.
Piper Sandler Companies operates as an investment bank and institutional securities firm, providing a range of financial services to corporations, private equity groups, and institutional investors globally. Its offerings include investment banking, institutional sales, trading, and research services, as well as advisory and capital-raising activities.
First Piper 