Investment banking firm Piper Sandler (NYSE: PIPR) will be announcing earnings results this Friday before the bell. Here’s what you need to know.
Piper Sandler beat analysts’ revenue expectations last quarter, reporting revenues of $635 million, up 27.4% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is Piper Sandler a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Piper Sandler’s revenue to grow 13.2% year on year, slowing from the 14.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Piper Sandler rarely misses Wall Street’s revenue estimates.
Looking at Piper Sandler’s peers in the investment banking & brokerage segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Evercore delivered year-on-year revenue growth of 98.8%, beating analysts’ expectations by 15.8%, and Morgan Stanley reported revenues up 16%, topping estimates by 4%. Morgan Stanley traded up 2.2% following the results.
Read our full analysis of Evercore’s results here and Morgan Stanley’s results here.
There has been positive sentiment among investors in the investment banking & brokerage segment, with share prices up 9.1% on average over the last month. Piper Sandler is up 12.9% during the same time and is heading into earnings with an average analyst price target of $94.88 (compared to the current share price of $86.41).
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