If you’re looking for stocks that are setting up in a base ahead of their next quarterly report, here’s one that fits the bill: Piper Sandler (PIPR). It’s expected to release its latest numbers around May 1 and is currently approximately 7% under a 124.13 entry. The entry is based on a second-stage flat base.
Keep in mind that buying just before a stock reports can be risky. You don’t know how the stock will report and how the market will react, and you don’t have enough time to build a profit cushion. You can minimize your exposure by waiting to see how the company reports and how the market reacts. You can also use an options strategy to limit your potential downside.
Piper Sandler posted 44% earnings growth in its most recent report, while sales growth came in at 45%.
Analysts expect EPS growth of 81% for the quarter, and -4% growth for the full year. Annual growth estimates were recently revised upward.
The company has a 96 Composite Rating and earns the No. 11 rank among its peers in the Finance-Investment Banking/Brokers industry group. Cowen (COWN), Futu Holdings Cl A Ads (FUTU) and Jefferies Financial Grp (JEF) are among the top 5 highly rated stocks within the group.
Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.
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