Piper Sandler Companies

PIPR · NYSE

$64.15+$0.70 (+1.10%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $63.45

PIPR analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $85.55 (+33.4% upside)

Low: $80.80
Now: $64.15
High: $91.88

Upgrades and downgrades

The latest rating actions, newest first

PIPR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Goldman Sachs	Oct 1, 2026	Maintains	Buy	$93.00 → $80.00	50%
Goldman Sachs	Mar 12, 2026	Maintains	Buy	$461.00 → $392.00	50%
Goldman Sachs	Nov 10, 2025	Upgrade	Neutral → Buy	$368.00 → $386.00	50%

The case for and against

Updated Oct 23, 2025

Bull case

Piper Sandler reported a quarter-ending Investment Banking Managing Director (MD) count of 182, marking a year-over-year increase of approximately 6%, and a notable 22% rise over the past three years, indicating strong growth in its leadership team and capacity in specialized sectors like energy and healthcare. The company's fixed income brokerage segment generated $45 million, reflecting a 7% increase from the previous year, driven by increased municipal client activity due to higher yields and proactive repositioning by depository clients. Advisory services have emerged as Piper Sandler's largest revenue source, demonstrating consistent high-level performance that positions the firm favorably for future market cycles, with expectations of recovery from any temporary disruptions as conditions normalize.

Bear case

Piper Sandler's stock has experienced a decline of approximately 16% year-to-date, reflecting concerns about its revenue generation capabilities amid a deteriorating macroeconomic environment. The potential impact of adverse economic conditions could significantly impair business activity, subsequently affecting the firm's overall revenues. Additionally, a mixed outlook for fixed income driven by ongoing rate volatility may further discourage investor engagement, compounding the challenges faced by the firm.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.