NAS10031,225+0.48%S&P7,819+0.58%GOLD$4,173+0.38%BTC$83,925−2.17%VIX15.01−3.29%live tape · as of 03:01 UTC
The Screen · Financials · Capital Markets
Piper Sandler Companies
PIPR · the NYSE · USD · Market cap $4.6B · 1,842 employees
Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United St…
FAIL · Does not pass the screen
64.72 USD
Screen close, 2026-09-29 · not a live quote Last reviewed 8 days ago
Screened 2026-09-29 · the tape above runs as of 03:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 64.72 against the desk's fair-value range, base estimate 85.12, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price64.72 USD
Fair value85.12
Ethical score30.0/100
Our investment reviews on this name
2026-10-02Read Distribution64.72+0.0% to today
2026-09-09Read Accumulation74.80-13.5% to today
2026-07-02Read Distribution79.05-18.1% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Piper Sandler Companies holds its Distribution at $64.72. The statistical read favours the sellers, held for 53 days.
As held on the ledger · 2026-09-29
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 53 days
Price at the screen
$64.72
Valuation
14.98 trailing · 11.70 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.41
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: financial services
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Piper Sandler Companies does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-07. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-29 screen. The gold marker is the market price at the same screen. A 31.5% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus Buy. The average target sits +35% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-29 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why We Pass on This Wall Street Firm
Investment banks sit at the centre of deal making and capital flows that keep markets moving. Yet we step away from Piper Sandler. The ethical screen rules it out because the firm operates in financial services, a sector the screen flags outright. That single filter overrides any other reading of the business.
The numbers themselves look solid on paper. Revenue rose 33 percent, the profit margin reached 14 percent and return on equity stands at 22 percent. Forward earnings sit at 13.6 times with a modest margin of safety to fair value. Four analysts still carry buy ratings and an 89 dollar median target. None of that matters once the ethical line is crossed.
The real risk is simple: any holding here would breach the screen by design. This is exactly what the screen exists to prevent. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PIPR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 13.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (4 analysts) rates it buy, with a mean price target of $95. Since the last review it its composite score rose.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (4 analysts) rates it buy, with a mean price target of $95.
2026-08-08Distribution$74.40-5.9%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (4 analysts) rates it buy, with a mean price target of $95.
2026-07-18Distribution$79.05+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (4 analysts) rates it buy, with a mean price target of $95.
2026-07-03Distribution$79.05+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Distribution$79.05Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
