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Piper Jaffray (NYSE:PJC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, American Banking and Market News reports. The firm currently has a $43.60 target price on the stock. Zacks‘ price target indicates a potential upside of 8.67% from the stock’s previous close.

Shares of Piper Jaffray (NYSE:PJC) traded down 0.27% during mid-day trading on Wednesday, hitting $40.0103. The stock had a trading volume of 42,040 shares. Piper Jaffray has a 52 week low of $29.48 and a 52 week high of $41.64. The stock has a 50-day moving average of $39.00 and a 200-day moving average of $36.39. The company has a market cap of $636.3 million and a P/E ratio of 15.05.

Piper Jaffray (NYSE:PJC) last announced its earnings results on Wednesday, January 29th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $1.18. The company had revenue of $182.60 million for the quarter, compared to the consensus estimate of $136.00 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, analysts predict that Piper Jaffray will post $2.99 earnings per share for the current fiscal year.

Piper Jaffray Companies is an investment bank and asset management firm, serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally.

To view Zacks’ full report, visit www.zacks.com

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