Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Piper Sandler Companies (PIPR)
NYSEFinancialsInvestment - Banking & Investment ServicesSnapshot 2026-11-04
$67.14-4.39%
Close 2026-11-05 · 1-day change
NYSEFinancialsInvestment - Banking & Investment ServicesSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
5.46 → 4.83 EPS · FY ending Dec 31, 2027 · 2 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 2 to 2; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for PIPR yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Maintain earnings per share growth | Earnings per share reached $1.00 in Q1 2026. | Broken | EPS falls below $1.00 in Q2 2026 | Diluted EPS: $0.95 per share FY2026-Q2; GAAP. Published target: EPS >= $1.00 in Q2 2026. The target does not explicitly identify fiscal versus calendar quarters. Aug 5, 20260.95 USD/share · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Next earnings date unavailable
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
PIPR is a financial-services business with a thesis tied to advisory and investment banking growth, platform expansion, and capital returns. The long-term thesis is intact, while the latest results have weakened the signal and left execution quality fragile.
PIPR is assessed as cheap versus peers, and the pricing is described as justified rather than unusually fragile. The expectations gap is negative, but the evidence does not define precisely what the market assumes; valuation confidence is medium.
Near term, results may remain uneven: PIPR missed earnings on October 30, and recent history includes a deep miss and a miss against its own guidance. Advisory revenue grew year over year in the third quarter, and management returned capital, but total quarterly revenue declined year over year; management execution is now rated stable, with priorities showing mixed delivery overall.
The next call is a key test: another guidance cut would add to concerns about execution and estimates. The multi-year view also depends on advisory growth and platform expansion translating into broader revenue progress, while sector signals may be affected by interest-rate conditions and earnings trends at financial-sector peers.
For the next 1 to 3 years, the thesis still rests on advisory growth and a broader platform, but the earnings miss and elevated risk make follow-through important. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Piper Sandler grows revenue over 20% driven by advisory services. |
| Broken |
| total revenue falls below $1.9 billion in FY26 |
Revenue: $496.254M FY2026-Q2; GAAP. Published target: >= $1.9 billion total revenue in FY26. Annual target cannot be compared with a quarterly or TTM observation. Aug 5, 2026496,254,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Maintain valuation discount to peers | A supporting condition in Piper Sandler Companies's published investment case. The stated target is PE ratio below 20. | Intact | PE ratio rises above 20 sustainably | P/E (TTM): 15.17x As of 2026-11-04; trailing twelve months. The target timing and basis require a separate assessment. Nov 4, 202615.1663 ratio · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$5.61 → $4.83 · observed estimates
$2.34B → $2.22B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-25 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-26 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-27 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-28 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-29 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-30 | $5.61 | $2,337,960,750 | 5 / 4 |
| 2026-07-31 | $5.52 | $2,348,913,250 | 2 / 3 |
| 2026-08-01 | $5.52 | $2,348,913,250 | 2 / 3 |
| 2026-08-02 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-03 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-04 | $5.53 | $2,348,913,250 | 5 / 4 |
| 2026-08-05 | $5.53 | $2,348,913,250 | 5 / 4 |
| 2026-08-06 | $5.53 | $2,348,913,250 | 5 / 4 |
| 2026-08-07 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-08 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-09 | $5.53 | $2,348,913,250 | 5 / 4 |
| 2026-08-10 | $5.53 | $2,348,913,250 | 5 / 4 |
| 2026-08-12 | $5.53 | $2,348,913,250 | 5 / 4 |
| 2026-08-13 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-14 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-15 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-16 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-17 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-18 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-19 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-20 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-21 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-22 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-23 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-24 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-25 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-26 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-27 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-28 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-29 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-30 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-08-31 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-01 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-02 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-03 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-04 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-05 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-06 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-07 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-08 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-09 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-10 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-11 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-12 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-13 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-14 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-15 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-16 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-17 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-18 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-19 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-20 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-21 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-22 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-23 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-24 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-25 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-26 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-27 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-28 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-29 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-09-30 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-10-01 | $5.50 | $2,348,913,250 | 2 / 3 |
| 2026-10-02 | $5.50 | $2,346,299,500 | 2 / 3 |
| 2026-10-03 | $5.50 | $2,346,299,500 | 2 / 3 |
| 2026-10-04 | $5.50 | $2,346,299,500 | 2 / 3 |
| 2026-10-05 | $5.46 | $2,342,824,500 | 2 / 3 |
| 2026-10-06 | $5.46 | $2,342,824,500 | 2 / 3 |
| 2026-10-07 | $5.46 | $2,342,824,500 | 2 / 3 |
| 2026-10-08 | $5.46 | $2,342,824,500 | 2 / 3 |
| 2026-10-09 | $5.46 | $2,342,824,500 | 2 / 3 |
| 2026-10-10 | $5.46 | $2,342,824,500 | 2 / 3 |
| 2026-10-11 | $5.46 | $2,342,979,000 | 2 / 3 |
| 2026-10-12 | $5.46 | $2,342,979,000 | 2 / 3 |
| 2026-10-13 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-14 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-15 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-16 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-17 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-18 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-19 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-20 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-21 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-22 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-23 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-24 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-25 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-26 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-27 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-28 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-29 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-30 | $5.36 | $2,342,979,000 | 2 / 3 |
| 2026-10-31 | $4.92 | $2,221,882,500 | 2 / 3 |
| 2026-11-01 | $4.92 | $2,221,882,500 | 2 / 3 |
| 2026-11-02 | $4.92 | $2,221,882,500 | 2 / 3 |
| 2026-11-03 | $4.83 | $2,221,882,500 | 2 / 3 |
| 2026-11-04 | $4.83 | $2,221,882,500 | 2 / 3 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 3 Buy / Strong Buy · 1 Hold · 1 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 0 recorded
0 raises · 0 cuts · 0 unchanged · 1 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.