Piper Sandler (PIPR) stock is currently trading with a positive outlook due to strong Q4 2024 results, including adjusted EPS of $4.80 and net revenues of $499 million, driven by advisory and corporate financing growth. However, recent analyst downgrades, such as Goldman Sachs lowering its rating to "Hold" with a $317 price target, reflect concerns about slower EPS growth in 2024-26. While the stock shows potential for long-term growth, near-term headwinds in healthcare and rising expenses could limit upside.