Piper Sandler saw its IBD SmartSelect Composite Rating jump to 96 Monday, up from 91 the day before.
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The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. The best stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Piper Sandler is currently forming a consolidation, with a 351.80 entry. Look for the stock to break out in volume at least 40% higher than normal.
One weak spot is the company's 77 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company reported a 17% earnings gain for Q2. Top line growth climbed 17%, up from 4% in the prior quarter. The company has now posted rising growth in each of the last two reports.
Piper Sandler earns the No. 9 rank among its peers in the Finance-Investment Banking/Brokers industry group. Futu Holdings ADR, Robinhood Markets and Interactive Brokers are among the top 5 highly-rated stocks within the group.
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