Piper Sandler (NYSE: PIPR) posted its best first quarter ever on May 7, with 33% revenue growth and record investment banking. It was the 10th consecutive quarter of year-over-year growth. The company also raised its dividend.
Yet Wall Street says Hold. This Minneapolis-based boutique investment bank is carrying momentum, and the upside is real. But the cyclical risk, well-known to investors, might be even more real.
