Investment banking firm Piper Sandler (NYSE: PIPR) will be announcing earnings results this Friday morning. Here’s what you need to know.
Piper Sandler beat analysts’ revenue expectations by 13.3% last quarter, reporting revenues of $396.8 million, up 17% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid 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, analysts are expecting Piper Sandler’s revenue to grow 21.4% year on year to $436.7 million, slowing from the 24.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.27 per share.
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 has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Piper Sandler’s peers in the investment banking & brokerage segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Morgan Stanley delivered year-on-year revenue growth of 18.5%, beating analysts’ expectations by 9.2%, and Jefferies reported revenues up 21.6%, topping estimates by 8.4%. Morgan Stanley traded up 3% following the results while Jefferies was down 1.9%.
Read our full analysis of Morgan Stanley’s results here and Jefferies’s results here.
Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the investment banking & brokerage stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.7% on average over the last month. Piper Sandler is down 5.9% during the same time and is heading into earnings with an average analyst price target of $373 (compared to the current share price of $326.36).
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