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Piper Sandler Companies (PIPR)



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Upturn Advisory Summary
08/14/2025: PIPR (2-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $335.5
1 Year Target Price $335.5
0 | Strong Buy |
0 | Buy |
4 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 58.54% | Avg. Invested days 48 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.87B USD | Price to earnings Ratio 27.94 | 1Y Target Price 335.5 |
Price to earnings Ratio 27.94 | 1Y Target Price 335.5 | ||
Volume (30-day avg) 4 | Beta 1.49 | 52 Weeks Range 202.39 - 346.37 | Updated Date 08/15/2025 |
52 Weeks Range 202.39 - 346.37 | Updated Date 08/15/2025 | ||
Dividends yield (FY) 0.77% | Basic EPS (TTM) 11.87 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-01 | When - | Estimate 2.25 | Actual 2.95 |
Profitability
Profit Margin 13.2% | Operating Margin (TTM) 15.32% |
Management Effectiveness
Return on Assets (TTM) 8.32% | Return on Equity (TTM) 11.78% |
Valuation
Trailing PE 27.94 | Forward PE - | Enterprise Value 5540643840 | Price to Sales(TTM) 3.67 |
Enterprise Value 5540643840 | Price to Sales(TTM) 3.67 | ||
Enterprise Value to Revenue 3.87 | Enterprise Value to EBITDA - | Shares Outstanding 17690500 | Shares Floating 17152394 |
Shares Outstanding 17690500 | Shares Floating 17152394 | ||
Percent Insiders 2.34 | Percent Institutions 83.32 |
Upturn AI SWOT
Piper Sandler Companies

Company Overview
History and Background
Piper Sandler Companies was founded in 1895 as Piper Jaffray Companies. It has evolved from a regional bond house to a full-service investment bank providing financial advisory and investment banking services.
Core Business Areas
- Financial Advisory: Provides M&A advisory, restructuring and special situations advisory, fairness opinions, and valuation services.
- Investment Banking: Offers underwriting and placement services for equity and debt securities, including IPOs, follow-on offerings, and private placements.
- Institutional Brokerage: Provides sales, trading, and research services to institutional investors.
- Asset Management: Manages assets for institutional clients and high-net-worth individuals.
Leadership and Structure
The CEO is Chad R. Piper. The company operates with a hierarchical structure with business segments led by senior managing directors.
Top Products and Market Share
Key Offerings
- M&A Advisory: Provides advice and execution for mergers, acquisitions, divestitures, and other corporate transactions. Piper Sandler is a key player in the middle market. Competitors include Houlihan Lokey, Baird, and Raymond James. Market share is difficult to pinpoint due to the deal-by-deal nature of M&A, but Piper Sandler is consistently ranked among the top advisors for certain sectors.
- Equity Underwriting: Underwrites and distributes equity securities for companies. They are particularly strong in financial services and healthcare. Competitors include bulge bracket firms and other middle-market investment banks. Market share varies by year and sector, but Piper Sandler maintains a notable presence.
- Fixed Income Services: Sales, trading, and underwriting of municipal and corporate debt securities. The firm has a strong presence in municipal finance. Key Competitors include larger firms with a broader array of fixed income products.
Market Dynamics
Industry Overview
The investment banking industry is cyclical, driven by economic conditions, interest rates, and regulatory changes. M&A activity and capital markets activity fluctuate significantly. There is ongoing competition for deals and talent.
Positioning
Piper Sandler is positioned as a leading middle-market investment bank, with a focus on specific sectors like financial services, healthcare, and energy. They leverage their sector expertise to win mandates and build relationships.
Total Addressable Market (TAM)
The TAM for investment banking is very large and estimated to be hundreds of billions of dollars annually. Piper Sandler targets the middle market, a significant portion of this TAM, and is well-positioned through its sector expertise.
Upturn SWOT Analysis
Strengths
- Strong sector expertise
- Established middle-market presence
- Experienced leadership team
- Solid reputation for advisory services
- Strong relationships with clients
Weaknesses
- Smaller scale compared to bulge bracket firms
- Revenue dependence on market cycles
- Exposure to deal execution risk
- Potential talent retention challenges
Opportunities
- Expand into new sectors
- Increase cross-selling of services
- Pursue strategic acquisitions
- Benefit from industry consolidation
- Capitalize on growing middle-market activity
Threats
- Increased competition from larger firms
- Economic downturns
- Regulatory changes
- Rising interest rates
- Cybersecurity risks
Competitors and Market Share
Key Competitors
- HLI (Houlihan Lokey)
- WDR (Baird Financial Group)
- RJF (Raymond James Financial)
Competitive Landscape
Piper Sandler competes effectively in the middle market, leveraging its sector expertise and relationships. Larger firms have broader capabilities but may not focus as much on the middle market.
Major Acquisitions
Cornerstone Macro
- Year: 2022
- Acquisition Price (USD millions):
- Strategic Rationale: Expanded research capabilities and broadened client base.
Growth Trajectory and Initiatives
Historical Growth: Piper Sandler's growth has been driven by organic expansion and strategic acquisitions. Specific growth rates vary year to year.
Future Projections: Analyst projections vary, but generally anticipate continued growth in revenue and earnings, driven by M&A activity and capital markets volumes.
Recent Initiatives: Recent initiatives include investments in technology, expansion into new sectors, and strategic hires.
Summary
Piper Sandler is a well-positioned middle-market investment bank with strong sector expertise. Its strength lies in its advisory and underwriting services within its focused sectors. The company's performance is tied to market cycles, requiring it to manage deal execution risk and talent retention effectively. Strategic initiatives and expansion efforts are crucial for sustained growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Piper Sandler Companies Investor Relations Website
- SEC Filings (10-K, 10-Q)
- Industry Reports
- Company Press Releases
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market data and financial information are subject to change. Analyst estimates are not guaranteed.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Piper Sandler Companies
Exchange NYSE | Headquaters Minneapolis, MN, United States | ||
IPO Launch date 2004-01-02 | Chairman, CEO & Head of Financial Services Mr. Chad R. Abraham | ||
Sector Financial Services | Industry Capital Markets | Full time employees 1845 | Website https://www.pipersandler.com |
Full time employees 1845 | Website https://www.pipersandler.com |
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, institutional sales, and trading services for various equity and fixed income products; research services; advisory services, such as mergers and acquisitions, equity and debt financings, private capital advisory, equity and debt private placements, and debt and restructuring advisory; municipal financial advisory and loan placement services; and various over-the-counter derivative products, as well as underwrites municipal issuances. The company also provides public finance investment banking services that focus on state and local governments, special districts and development infrastructure, project finance, and cultural and social service non-profit entities, as well as the education, healthcare, hospitality, senior living, housing, and transportation sectors. In addition, it offers equity and fixed income advisory and trade execution services for institutional investors, corporations, and government and non-profit entities. Further, the company has alternative asset management funds in merchant banking and healthcare to invest firm capital and to manage capital from outside investors. The company was formerly known as Piper Jaffray Companies and changed its name to Piper Sandler Companies in January 2020. Piper Sandler Companies was founded in 1895 and is headquartered in Minneapolis, Minnesota.

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