Investment banking firm Piper Sandler (NYSE: PIPR) will be announcing earnings results this Thursday before market open. Here’s what investors should know.
Piper Sandler beat analysts’ revenue expectations last quarter, reporting revenues of $469.5 million, up 22.5% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS 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 10.2% year on year, slowing from the 13.6% 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 will 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 Q2 results, giving us a hint as to what we can expect. Goldman Sachs delivered year-on-year revenue growth of 39.5%, beating analysts’ expectations by 23.7%, and PJT reported revenues up 19.5%, topping estimates by 14.3%. Goldman Sachs traded up 10.2% following the results.
Read our full analysis of Goldman Sachs’s results here and PJT’s results here.
There has been positive sentiment among investors in the investment banking & brokerage segment, with share prices up 8.9% on average over the last month. Piper Sandler is up 6.6% during the same time and is heading into earnings with an average analyst price target of $88.13 (compared to the current share price of $77.44).
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