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Piper Sandler Cos (PIPR)

Market Price (5/2/2026): $80.2 | Market Cap: $5.4 Bil
Sector: Financials | Industry: Investment Banking & Brokerage

Piper Sandler Cos (PIPR)

Market Price (5/2/2026): $80.2
Market Cap: $5.4 Bil
Sector: Financials
Industry: Investment Banking & Brokerage

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 10%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -79%

Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets, Fintech & Digital Payments, and Investment Banking & Financial Advisory. Themes include Private Equity, Show more.

High stock price volatility
Vol 12M is 321%

Key risks
PIPR key risks include [1] a high susceptibility to economic and market volatility due to its business model's primary reliance on revenues from cyclical M&A and capital-raising activities.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 10%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13%
2 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%
4 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -79%
5 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets, Fintech & Digital Payments, and Investment Banking & Financial Advisory. Themes include Private Equity, Show more.
6 High stock price volatility
Vol 12M is 321%
7 Key risks
PIPR key risks include [1] a high susceptibility to economic and market volatility due to its business model's primary reliance on revenues from cyclical M&A and capital-raising activities.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Piper Sandler Cos (PIPR) stock has lost about 5% since 1/31/2026 because of the following key factors:

1. Persistent Macroeconomic Headwinds and Market Conditions: Investment banking activity, a primary revenue driver for Piper Sandler, faced ongoing challenges from a deteriorating macroeconomic environment, leading to investor concerns regarding the firm's revenue generation capabilities throughout the period.

2. Analyst Downgrades and Shifting Sentiment: Several investment analysts revised their ratings for Piper Sandler in April 2026. Zacks Research downgraded the stock from "strong-buy" to "hold" on April 7, 2026, followed by Wall Street Zen lowering its rating from "buy" to "hold" on April 11, 2026. These downgrades likely contributed to selling pressure and a more cautious investor outlook.

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Stock Movement Drivers

Fundamental Drivers

The -6.5% change in PIPR stock from 1/31/2026 to 5/1/2026 was primarily driven by a -20.9% change in the company's P/E Multiple.
(LTM values as of)13120265012026Change
Stock Price ($)84.9779.42-6.5%
Change Contribution By: 
Total Revenues ($ Mil)1,6551,83610.9%
Net Income Margin (%)14.3%15.3%7.3%
P/E Multiple24.019.0-20.9%
Shares Outstanding (Mil)6767-0.7%
Cumulative Contribution-6.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/1/2026
ReturnCorrelation
PIPR-6.5% 
Market (SPY)3.6%7.9%
Sector (XLF)-2.3%11.6%

Fundamental Drivers

The 1.6% change in PIPR stock from 10/31/2025 to 5/1/2026 was primarily driven by a 19.1% change in the company's Total Revenues ($ Mil).
(LTM values as of)103120255012026Change
Stock Price ($)78.1679.421.6%
Change Contribution By: 
Total Revenues ($ Mil)1,5421,83619.1%
Net Income Margin (%)13.7%15.3%12.0%
P/E Multiple24.819.0-23.2%
Shares Outstanding (Mil)6767-0.8%
Cumulative Contribution1.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/1/2026
ReturnCorrelation
PIPR1.6% 
Market (SPY)5.5%7.9%
Sector (XLF)-0.0%10.4%

Fundamental Drivers

The 35.2% change in PIPR stock from 4/30/2025 to 5/1/2026 was primarily driven by a 24.8% change in the company's Net Income Margin (%).
(LTM values as of)43020255012026Change
Stock Price ($)58.7579.4235.2%
Change Contribution By: 
Total Revenues ($ Mil)1,4761,83624.4%
Net Income Margin (%)12.3%15.3%24.8%
P/E Multiple20.819.0-8.7%
Shares Outstanding (Mil)6467-4.6%
Cumulative Contribution35.2%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/1/2026
ReturnCorrelation
PIPR35.2% 
Market (SPY)30.4%8.5%
Sector (XLF)8.1%11.1%

Fundamental Drivers

The 150.9% change in PIPR stock from 4/30/2023 to 5/1/2026 was primarily driven by a 90.1% change in the company's Net Income Margin (%).
(LTM values as of)43020235012026Change
Stock Price ($)31.6679.42150.9%
Change Contribution By: 
Total Revenues ($ Mil)1,3741,83633.7%
Net Income Margin (%)8.1%15.3%90.1%
P/E Multiple15.619.021.6%
Shares Outstanding (Mil)5567-18.8%
Cumulative Contribution150.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/1/2026
ReturnCorrelation
PIPR150.9% 
Market (SPY)78.7%13.0%
Sector (XLF)64.3%15.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PIPR Return85%-23%38%74%16%5%312%
Peers Return47%-14%38%63%5%-8%173%
S&P 500 Return27%-19%24%23%16%5%92%

Monthly Win Rates [3]
PIPR Win Rate75%33%58%67%67%75% 
Peers Win Rate60%40%60%77%62%35% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
PIPR Max Drawdown-9%-40%-4%-6%-29%-16% 
Peers Max Drawdown-4%-31%-5%-3%-34%-23% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: JEF, HLI, LAZ, EVR, SF.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)

How Low Can It Go

EventPIPRS&P 500
2025 US Tariff Shock
  % Loss-30.4%-18.8%
  % Gain to Breakeven43.7%23.1%
  Time to Breakeven93 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-12.5%-9.5%
  % Gain to Breakeven14.2%10.5%
  Time to Breakeven21 days24 days
2023 SVB Regional Banking Crisis
  % Loss-21.3%-6.7%
  % Gain to Breakeven27.1%7.1%
  Time to Breakeven203 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-40.6%-24.5%
  % Gain to Breakeven68.4%32.4%
  Time to Breakeven517 days427 days
2020 COVID-19 Crash
  % Loss-59.5%-33.7%
  % Gain to Breakeven147.2%50.9%
  Time to Breakeven218 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-18.2%-19.2%
  % Gain to Breakeven22.3%23.7%
  Time to Breakeven116 days105 days

Compare to JEF, HLI, LAZ, EVR, SF

In The Past

Piper Sandler Cos's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPIPRS&P 500
2025 US Tariff Shock
  % Loss-30.4%-18.8%
  % Gain to Breakeven43.7%23.1%
  Time to Breakeven93 days79 days
2023 SVB Regional Banking Crisis
  % Loss-21.3%-6.7%
  % Gain to Breakeven27.1%7.1%
  Time to Breakeven203 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-40.6%-24.5%
  % Gain to Breakeven68.4%32.4%
  Time to Breakeven517 days427 days
2020 COVID-19 Crash
  % Loss-59.5%-33.7%
  % Gain to Breakeven147.2%50.9%
  Time to Breakeven218 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-24.1%-12.2%
  % Gain to Breakeven31.8%13.9%
  Time to Breakeven28 days62 days
2014-2016 Oil Price Collapse
  % Loss-38.8%-6.8%
  % Gain to Breakeven63.5%7.3%
  Time to Breakeven268 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-46.7%-17.9%
  % Gain to Breakeven87.6%21.8%
  Time to Breakeven452 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-27.4%-15.4%
  % Gain to Breakeven37.7%18.2%
  Time to Breakeven188 days125 days
2008-2009 Global Financial Crisis
  % Loss-62.2%-53.4%
  % Gain to Breakeven164.7%114.4%
  Time to Breakeven157 days1085 days

Compare to JEF, HLI, LAZ, EVR, SF

In The Past

Piper Sandler Cos's stock fell -30.4% during the 2025 US Tariff Shock. Such a loss loss requires a 43.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Piper Sandler Cos (PIPR)

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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products. It provides advisory services, such as mergers and acquisitions, equity private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and offers municipal financial advisory and loan placement services, as well as various over-the-counter derivative products. The company also offers public finance investment banking services that focus on state and local governments, and cultural and social service non-profit entities, as well as the education, healthcare, hospitality, senior living, and transportation sectors. In addition, it provides equity and fixed income advisory and trade execution services for institutional investors, and government and non-profit entities. Further, the company is involved in the alternative asset management funds merchant banking and healthcare to invest firm capital and to manage capital from outside investors, as well as trading activities. 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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A full-service investment bank, similar to a smaller Morgan Stanley or Goldman Sachs.

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  • Investment Banking Advisory: Provides strategic advice on mergers & acquisitions, equity private placements, and debt & restructuring.
  • Capital Raising & Underwriting: Facilitates equity and debt financings and underwrites municipal issuances for various entities.
  • Public Finance Investment Banking: Offers specialized financial advisory and loan placement services for state and local governments and non-profit organizations.
  • Institutional Sales, Trading, & Research: Delivers advisory and trade execution services for institutional investors in equity and fixed income markets, supported by research.
  • Alternative Asset Management: Manages firm capital and capital from outside investors through alternative asset funds, focusing on sectors like healthcare.
  • Over-the-Counter Derivative Products: Offers various customized derivative instruments for clients.

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Piper Sandler Companies (PIPR) primarily serves other companies and institutional entities rather than individual consumers. While specific names of its client companies are not publicly disclosed in the provided information, which is common for investment banking services, its major customer categories include:

  • Corporations
  • Private Equity Groups
  • Public Entities (such as state and local governments)
  • Non-profit Entities (including those in education, healthcare, hospitality, senior living, and transportation sectors, as well as cultural and social service organizations)
  • Institutional Investors

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Chad Abraham, Chairman, Chief Executive Officer

Chad Abraham serves as the chairman and chief executive officer of Piper Sandler, a position he has held since January 2018. He joined the firm in 1991 as an investment banking analyst. He was promoted to managing director and head of technology investment banking in 1999, head of capital markets in 2005, and global co-head of investment banking and capital markets in 2010. Abraham serves on the board of directors for Columbus McKinnon Corporation. He previously served as Chairman & Chief Executive Officer of Piper Jaffray Cos.

Kate Clune, Chief Financial Officer

Kate Clune was appointed Chief Financial Officer of Piper Sandler in the first quarter of 2024, succeeding Tim Carter. She joined Piper Sandler from Evercore Inc., where she was most recently treasurer and head of planning and strategy. Prior to Evercore, Ms. Clune spent 16 years at Morgan Stanley, holding various roles in operations, sales and trading, and finance, including corporate treasury and CFO of their U.S. banks, as well as global head of financial planning and analysis.

Debbra Schoneman, President

Debbra Schoneman serves as president of Piper Sandler, a position she has held since January 2018. She joined Piper Sandler in 1990 in the accounting department. She has held several senior management positions within the firm, including global head of equities, chief financial officer (from May 2008 to December 2017), finance director of both equity and fixed income capital markets, and treasurer. Schoneman serves on the board of directors of Hormel Foods and Allina Health, and previously served on the board of directors of SIFMA.

James Baker, Global Co-Head of Investment Banking and Capital Markets

James P. Baker is the global co-head of investment banking and capital markets, a position he has held since January 2019. Before this role, he served as co-head of energy investment banking from February 2016 to December 2018. Mr. Baker joined Piper Sandler in February 2016 following the acquisition of Simmons & Company International, where he was a managing director and leader of its midstream/downstream investment banking group, having joined Simmons in 2001.

Jonathan Doyle, Vice Chairman, Senior Managing Principal and Head of Financial Services

Jonathan J. Doyle is the vice chairman, senior managing principal, and head of the financial services group, a position he has held since January 2020.

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The key risks to Piper Sandler Cos (PIPR) are:

Market Volatility and Economic Uncertainty

Piper Sandler Companies' performance is significantly influenced by the health of financial markets and the broader economy. Economic downturns, such as unexpected drops in employment or concerns over market stability, can adversely affect the demand for the company's investment banking and brokerage services. Revenue streams, particularly from mergers and acquisitions (M&A) and equity capital markets (ECM), are highly susceptible to market volatility and economic uncertainty, with capital markets activity capable of declining rapidly during such periods. This inherent cyclical risk means that substantial growth in areas like equity financing may not be sustainable or predictable over the long term.

Intense Competition

The company operates in a highly competitive industry where it contends with larger firms possessing greater financial and technological resources. These larger competitors often have the capacity to offer a more extensive range of products and services, undertake greater risk, and exercise more flexibility in pricing and client offerings. Piper Sandler's relatively smaller scale compared to these dominant players can hinder its ability to compete effectively, particularly in diversifying its product offerings and expanding its market reach.

Regulatory and Compliance Risks

As an investment bank and institutional securities firm, Piper Sandler Companies operates within a heavily regulated financial services industry. It faces ongoing scrutiny and evolving rule-making from legislators and regulators. Non-compliance with these regulations can lead to substantial legal penalties, significant financial losses, and severe reputational damage. Changes in the regulatory environment can impact how the company structures its products and services, conducts transactions, and reports financial activities, requiring constant adaptation and investment in compliance frameworks.

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Piper Sandler Companies (PIPR) operates in several financial sectors, with addressable markets varying by service and geographic region.

Investment Banking

The global investment banking market, which encompasses services such as mergers and acquisitions (M&A) advisory, equity private placements, and debt and restructuring advisory, was valued at approximately USD 129.13 billion in 2025 and is projected to reach USD 301.52 billion by 2035. Another estimate places the global market at USD 110.12 billion in 2025, growing to USD 117.79 billion in 2026 and USD 214.90 billion by 2034. For the United States specifically, the investment banking market is expected to grow from USD 54.74 billion in 2025 to USD 56.68 billion in 2026, and is forecast to reach USD 67.47 billion by 2031. North America, as a broader region, held a valuation of USD 44.72 billion in 2025 and USD 47.76 billion in 2026.

  • M&A Advisory: The global M&A advisory market was valued at USD 27.95 billion in 2024 and is expected to reach USD 34.80 billion by 2033. Another source estimated the global M&A advisory market at $50 billion in 2025. Global M&A deal value reached approximately $3.2 trillion in 2023. In 2025, global M&A dealmaking reached $4.5–$5 trillion. The United States accounted for 38% of the global market share in 2023.
  • Equity Capital Markets (ECM): The global equity market capitalization increased to $126.7 trillion in 2024. In 2023, the global stock market reached $109 trillion in total market capitalization. The U.S. equity markets alone comprise over $46.2 trillion, representing 42.5% of the global equity market capitalization as of Q2 2023. Total U.S. equity issuance reached $311 billion year-to-date in 2025.
  • Debt Capital Markets (DCM): The global fixed income markets outstanding increased to $145.1 trillion in 2024. The global bond market totaled $133 trillion in 2022. Global debt issuances reached US$8.3 trillion during the first nine months of 2024. The U.S. has the largest bond market globally, valued at over $51 trillion in 2022.

Public Finance Investment Banking

Focusing on municipal issuances, the U.S. municipal bond market had approximately $4.2 trillion in outstanding municipal bond holdings as of the end of September 2020. More recently, municipal bonds outstanding in the U.S. were $4.4 trillion as of Q3 2025. Municipal issuance in the U.S. is expected to reach $600 billion in 2026.

Alternative Asset Management

The global alternative asset management industry is projected to reach $29.2 trillion in assets under management (AUM) by 2029, from $16.8 trillion at the end of 2023. It is on course to exceed $30 trillion in AUM by 2030. Private markets revenues are anticipated to reach US $432.2 billion by 2030. Global private debt assets alone hit a new high of $1.19 trillion at the end of 2024.

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Expected Drivers of Future Revenue Growth for Piper Sandler Companies (PIPR)

Over the next 2-3 years, Piper Sandler Companies (PIPR) is expected to drive future revenue growth through several key initiatives and market trends:

  1. Sustained Growth and Robust Pipeline in Advisory Services: Piper Sandler anticipates continued strong performance from its advisory services, encompassing both mergers and acquisitions (M&A) and non-M&A advisory. The company has reported record advisory revenues and a robust pipeline of engagement mandates, indicating sustained momentum in this core business segment.
  2. Strategic Expansion of Investment Banking Talent and Specialized Capabilities: The firm is focused on expanding its human capital by increasing its Investment Banking Managing Director headcount and enhancing productivity per banker. Furthermore, strategic acquisitions, such as G2 Capital Partners to bolster its technology investment banking practice, and targeted hires in areas like healthcare and life sciences, are aimed at deepening expertise and diversifying revenue streams.
  3. Targeted Growth in Key Industry Verticals: Piper Sandler is actively concentrating its efforts and expanding its presence within specific high-growth industry sectors. These include healthcare (with a particular emphasis on life sciences), technology, and financial services, where the company identifies significant opportunities for future fee generation and client engagement.
  4. Favorable Capital Markets Environment: A general improvement and stability in the broader capital markets environment, particularly concerning equity and debt financings, is anticipated to contribute positively to Piper Sandler's revenue growth across its various business lines.

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Share Repurchases

  • Piper Sandler authorized a new share repurchase program of up to $150 million on February 6, 2025, effective immediately and expiring on December 31, 2026, which replaced a previous authorization that expired on December 31, 2024.
  • An additional $150 million share repurchase authorization was made on May 6, 2022, set to expire on December 31, 2024, while $43.0 million remained under a prior authorization.
  • The company returned $155 million to shareholders through share repurchases and dividends in 2023, and $140 million in 2024.

Share Issuance

  • Piper Sandler's shares outstanding have shown a net increase from 14.11 million in 2021 to 16.71 million in 2025.
  • Share repurchase programs are primarily used to offset the dilutive effect of employee equity-based compensation.
  • Executives received substantial performance share unit awards that vested at 163% overall based on adjusted return on equity and relative total shareholder return from January 2023 through December 2025.

Outbound Investments

  • Piper Sandler acquired Cornerstone Macro on October 14, 2021, to enhance its macro research and derivatives trading capabilities.
  • On October 10, 2022, the company acquired DBO Partners, expanding its technology investment banking services.
  • Piper Sandler acquired Aviditi Advisors on August 23, 2024, which added private capital advisory capabilities to its platform.
  • The company acquired M&A advisory firm G Squared Capital Partners on September 12, 2025.

Capital Expenditures

  • No specific dollar values for capital expenditures or future expected capital expenditures were readily available in the provided information.
  • Piper Sandler describes its business model as "capital light".

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
116-Day Rally Sends Piper Sandler Cos Stock Up 25%04/22/2026
2Piper Sandler Cos Stock 13-Day Winning Spree: Stock Climbs 22%04/17/2026
3Piper Sandler Cos Stock Rockets 21% With 12-Day Winning Streak04/16/2026
4With Piper Sandler Cos Stock Surging, Have You Considered The Downside?10/17/2025
5Why Piper Sandler Cos Stock Moved: PIPR Stock Has Gained 183% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)08/08/2025
6Piper Sandler Cos (PIPR) Valuation Ratios Comparison08/08/2025
7PIPR Dip Buy Analysis07/10/2025
8Piper Sandler Cos Total Shareholder Return (TSR): 75.6% in 2024 and 26.0% 3-yr compounded annual returns (above peer average)03/07/2025
9Time To Buy Piper Sandler Cos Stock?02/28/2025
10Piper Sandler Cos (PIPR) Operating Cash Flow Comparison02/17/2025
11ARTICLES 
12Piper Sandler Cos Stock Rockets 25% With 16-Day Winning Streak04/22/2026

Trade Ideas

Select ideas related to PIPR.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
EEFT_4302026_Dip_Buyer_ValueBuy04302026EEFTEuronet WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
HOMB_4242026_Insider_Buying_GTE_1Mil_EBITp+DE_V204242026HOMBHome BancSharesInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		1.5%1.5%0.0%
HBAN_3312026_Insider_Buying_45D_2Buy_200K03312026HBANHuntington BancsharesInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		7.1%7.1%0.0%
NP_3312026_Insider_Buying_45D_2Buy_200K03312026NPNeptune InsuranceInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		3.9%3.9%0.0%
JKHY_3272026_Monopoly_xInd_xCD_Getting_Cheaper03272026JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.3%0.3%-4.0%
PIPR_11302021_Quality_Momentum_RoomToRun_10%11302021PIPRPiper Sandler CosQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		-17.3%-9.0%-35.0%

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Peer Comparisons

Peers to compare with:

Financials

PIPRJEFHLILAZEVRSFMedian
NamePiper Sa.Jefferie.Houlihan.Lazard Evercore Stifel F. 
Mkt Price79.4249.29153.0845.13316.7977.0378.22
Mkt Cap5.310.610.24.512.311.910.4
Rev LTM1,83611,2222,6483,1483,8565,4643,502
Op Inc LTM-4,702635377--635
FCF LTM552-7947394871,1821,055645
FCF 3Y Avg372-1,380562440859640501
CFO LTM587-5727695191,2561,117678
CFO 3Y Avg392-1,187609476901702542

Growth & Margins

PIPRJEFHLILAZEVRSFMedian
NamePiper Sa.Jefferie.Houlihan.Lazard Evercore Stifel F. 
Rev Chg LTM24.4%7.5%18.0%2.0%29.4%11.3%14.7%
Rev Chg 3Y Avg10.9%17.2%13.4%4.4%13.4%8.2%12.1%
Rev Chg Q38.8%16.1%13.0%11.5%32.1%14.5%15.3%
QoQ Delta Rev Chg LTM10.9%3.7%3.2%3.1%8.8%3.7%3.7%
Op Inc Chg LTM--0.2%24.9%-10.5%---0.2%
Op Inc Chg 3Y Avg-22.3%22.1%310.6%--22.3%
Op Mgn LTM-41.9%24.0%12.0%--24.0%
Op Mgn 3Y Avg-44.1%22.9%8.0%--22.9%
QoQ Delta Op Mgn LTM--0.9%0.4%-0.9%---0.9%
CFO/Rev LTM31.9%-5.1%29.1%16.5%32.6%20.4%24.8%
CFO/Rev 3Y Avg24.8%-12.5%26.5%15.7%28.2%14.0%20.2%
FCF/Rev LTM30.1%-7.1%27.9%15.5%30.7%19.3%23.6%
FCF/Rev 3Y Avg23.6%-14.4%24.2%14.5%27.0%12.7%19.0%

Valuation

PIPRJEFHLILAZEVRSFMedian
NamePiper Sa.Jefferie.Houlihan.Lazard Evercore Stifel F. 
Mkt Cap5.310.610.24.512.311.910.4
P/S2.90.93.91.43.22.22.5
P/Op Inc-2.316.111.9--11.9
P/EBIT-2.416.110.8--10.8
P/E19.014.322.818.920.717.418.9
P/CFO9.1-18.613.38.69.810.69.4
Total Yield7.4%7.0%6.1%9.5%6.0%7.5%7.2%
Dividend Yield2.1%0.0%1.7%4.2%1.2%1.7%1.7%
FCF Yield 3Y Avg2.2%-13.5%5.3%-8.3%6.1%5.3%
D/E0.02.40.00.50.10.10.1
Net D/E-0.11.3-0.10.1-0.0-0.1-0.0

Returns

PIPRJEFHLILAZEVRSFMedian
NamePiper Sa.Jefferie.Houlihan.Lazard Evercore Stifel F. 
1M Rtn3.7%19.2%8.5%7.5%5.1%4.1%6.3%
3M Rtn-6.5%-18.8%-8.7%-15.2%-10.1%-5.9%-9.4%
6M Rtn1.6%-5.3%-13.9%-5.7%8.1%-1.6%-3.5%
12M Rtn34.2%7.6%-5.3%19.3%55.4%35.9%26.8%
3Y Rtn161.2%75.6%81.1%37.6%205.4%111.8%96.5%
1M Excs Rtn-6.3%9.2%-1.4%-2.4%-4.8%-5.8%-3.6%
3M Excs Rtn-10.7%-23.0%-12.9%-19.4%-14.3%-10.1%-13.6%
6M Excs Rtn-5.5%-10.4%-27.2%-8.8%3.9%-5.8%-7.3%
12M Excs Rtn5.3%-21.2%-34.1%-8.9%26.3%7.4%-1.8%
3Y Excs Rtn80.0%-0.7%-1.6%-40.7%125.2%33.9%16.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single segment1,4761,3001,3741,9721,181
Total1,4761,3001,3741,9721,181


Price Behavior

Price Behavior
Market Price$79.42 
Market Cap ($ Bil)5.3 
First Trading Date01/02/2004 
Distance from 52W High-73.4% 
   50 Days200 Days
DMA Price$101.34$87.68
DMA Trendupup
Distance from DMA-21.6%-9.4%
 3M1YR
Volatility642.0%321.7%
Downside Capture5.732.24
Upside Capture774.99331.30
Correlation (SPY)8.0%8.7%
PIPR Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.142.963.382.692.191.61
Up Beta1.11-15.32-10.43-4.40-0.900.98
Down Beta1.05-3.97-1.85-0.130.761.21
Up Capture131%2151%1898%1413%1156%1869%
Bmk +ve Days15223166141428
Stock +ve Days17283672134401
Down Capture32%600%441%279%202%112%
Bmk -ve Days4183056108321
Stock -ve Days5152853118352

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PIPR
PIPR35.3%321.0%0.83-
Sector ETF (XLF)8.2%14.7%0.3211.1%
Equity (SPY)30.6%12.5%1.888.5%
Gold (GLD)39.5%27.2%1.20-1.2%
Commodities (DBC)51.5%17.9%2.204.8%
Real Estate (VNQ)13.1%13.5%0.678.4%
Bitcoin (BTCUSD)-18.2%42.1%-0.361.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PIPR
PIPR25.8%146.9%0.49-
Sector ETF (XLF)9.8%18.7%0.4018.3%
Equity (SPY)12.8%17.1%0.5916.2%
Gold (GLD)20.5%17.9%0.940.1%
Commodities (DBC)14.3%19.1%0.615.2%
Real Estate (VNQ)3.5%18.8%0.0912.8%
Bitcoin (BTCUSD)7.4%56.1%0.356.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PIPR
PIPR24.0%107.4%0.46-
Sector ETF (XLF)12.6%22.2%0.5225.4%
Equity (SPY)14.9%17.9%0.7122.8%
Gold (GLD)13.6%15.9%0.71-1.2%
Commodities (DBC)9.7%17.7%0.469.3%
Real Estate (VNQ)5.7%20.7%0.2417.6%
Bitcoin (BTCUSD)67.4%66.9%1.076.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity2.5 Mil
Short Interest: % Change Since 3312026-7.5%
Average Daily Volume0.6 Mil
Days-to-Cover Short Interest4.2 days
Basic Shares Quantity67.3 Mil
Short % of Basic Shares3.7%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/1/2026-8.9%  
2/6/20269.9%-3.1%-11.4%
10/31/2025-2.4%0.5%-0.7%
8/1/2025-1.2%1.9%6.1%
5/2/20253.7%5.5%3.5%
1/31/20252.3%3.0%-8.7%
10/25/2024-3.1%-2.0%17.9%
8/2/2024-6.7%-2.7%4.3%
...
SUMMARY STATS   
# Positive121617
# Negative1387
Median Positive3.8%5.0%11.4%
Median Negative-2.9%-2.3%-5.8%
Max Positive9.9%14.0%17.9%
Max Negative-8.9%-6.3%-16.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/26/202610-K
09/30/202511/04/202510-Q
06/30/202508/06/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/06/202410-Q
03/31/202405/07/202410-Q
12/31/202302/26/202410-K
09/30/202311/03/202310-Q
06/30/202308/02/202310-Q
03/31/202305/04/202310-Q
12/31/202202/24/202310-K
09/30/202211/01/202210-Q
06/30/202208/02/202210-Q
03/31/202205/06/202210-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Schoneman, Debbra LPresidentDirectSell2132026350.995,2401,839,2131,016,481Form
2Abraham, Chad RCEO and ChairmanDirectSell12012025336.213,0001,008,63318,006,794Form
3Abraham, Chad RCEO and ChairmanDirectSell12012025337.604,4001,485,44118,081,199Form
4Clune, Katherine PatriciaChief Financial OfficerDirectSell11212025324.691,367443,8513,384,893Form
5Soran, PhilipDirectSell11192025317.05598189,5966,092,750Form

Industry Resources

External Quote Links


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