Piper Sandler Companies (PIPR)

Piper Sandler's stock price has increased by 27.7% as of December 24, 2025, outperforming the S&P 500. The stock price on January 6, 2026, was $367.65, marking a 24.68% increase from January 7, 2025. Wolfe Research upgraded the stock to "Outperform" in July 2025, with a price target of $339. The company reported strong financial results for Q1 2025, with adjusted net revenues increasing by 15% year-over-year. Corporate investment banking revenues rose by 20%, largely due to a 38% increase in advisory services. Piper Sandler also expanded its managing director count by 6% year-over-year. Wolfe Research maintained a "Buy" rating and raised the target price to $398 in January 2026. The company also announced new co-heads for its Healthcare Investment Banking, Consumer Investment Banking, and Equity Capital Markets groups, and the addition of Dan Wolf to its healthcare investment banking team.

The demand for Piper Sandler's products and services is cyclical. The financial services industry is subject to intense competition, and demand can fluctuate with broader economic conditions and market activity.

Piper Sandler Companies is an investment bank and institutional securities firm providing financial services to corporations, private equity groups, public entities, non-profit organizations, and institutional investors. It operates in the Financials sector, specifically in the Capital Markets industry. The company offers investment banking services such as M&A advisory, equity and debt financings, private capital advisory, and debt and restructuring advisory. It also provides institutional sales and trading services, research services, municipal financial advisory, loan placement services, and over-the-counter derivative products. Piper Sandler underwrites municipal issuances and manages alternative asset management funds. The company was founded in 1895 and is headquartered in Minneapolis, Minnesota.

Piper Sandler has a global presence, operating in the United States and internationally. The firm maintains over 60 offices across five countries, with its headquarters in Minneapolis, Minnesota. Internationally, Piper Sandler has offices in key financial centers including London, Aberdeen, Hong Kong, Zurich, and Munich, and is opening a new office in Paris. The majority of its net revenues and long-lived assets are located in the U.S.

Piper Sandler has maintained a strong brand reputation, being highly regarded for its large brokerage operation, respected equity research team, and fixed-income expertise. Its equity underwriting services have shown a gradual increase in market share, now ranking 8th. The Piper Sandler equity research platform is consistently recognized among the top 10 investment banks globally. The firm was voted the #1 small and mid-cap liquidity provider by the buyside in the 2024 Extel U.S. Equity Trading Study. Analyst sentiment is generally positive, with Wolfe Research upgrading the stock to "Outperform". Some analysts have expressed concerns about the business's exposure to market conditions, and significant insider selling has been highlighted as a potential negative signal.

Institutional investors hold a significant majority of Piper Sandler's stock, ranging from approximately 71.99% to 85.16%. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, Invesco Ltd., and State Street Corp. Retail investors hold a smaller portion, ranging from 14.14% to 24.89% of the stock. CEO Chad Abraham holds 0.5% of the company's shares, and Andrew S. Duff is the largest individual shareholder with 1.05% of the company. There has been significant insider selling over the past year, particularly in the last quarter, and a low level of insider ownership.