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Perella Weinberg Partners

Perella Weinberg Partners

PWP
$15.89USD↓-3.35%-0.55 today

MARKET CAP

1.5B

P/E (TTM)

36.1x

FWD P/E

10.9x

DAY RANGE

$16 – $17

52W RANGE

$15
$26

AI Summary

Stalk
Sell NowMedium

PWP remains in a Stage 4 decline with a series of lower highs and lower lows, reinforcing a bearish medium-term posture. Price has rallied into the declining 9-/21-EMA zone, offering a structurally appropriate resistance area for execution. The active Bearish Pivot Point pattern indicates failure of upside control and entry into mean reversion. Short-term timing favors a Sell Now into the EMA resistance, with the primary risk being a decisive break and acceptance above the EMA band and mid-July consolidation highs, which would invalidate the bearish thesis.

  • ↑Backlog at two-year quarterly high despite $149m revenue (-30% YoY), signaling recovery potential.
  • ↑Gleacher Shacklock acquisition expands UK advisory scale, enhancing market presence.
  • ↓Q1 revenue fell 30% YoY to $149m and missed EPS estimates, eroding investor confidence.
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The case for & against

Bull & Bear analysis

Bearish

Perella Weinberg Partners (NASDAQ: PWP) is a leading independent investment advisory firm engaged in providing M&A advisory, capital raising, and restructuring services. The firm has established a significant presence in both the U.S. and European markets, demonstrating a commitment to upholding high standards in financial advisory amidst a highly competitive environment. With a focus on larger, complex transactions, Perella Weinberg aims to leverage ongoing trends in investment management and restructuring, positioning itself as a vital player within the investment banking industry.

Bull says

  • ↑Backlog at two-year quarterly high despite $149m revenue (-30% YoY), signaling recovery potential.
  • ↑Gleacher Shacklock acquisition expands UK advisory scale, enhancing market presence.
  • ↑Non-compensation expenses down 24% YoY, reflecting disciplined cost management.
  • ↑Cash of $78m with zero debt underpins liquidity for strategic initiatives.
  • ↑Anticipated M&A rebound in H2 2026 could accelerate deal flow and revenue.
  • ↑High earnings yield, strong liquidity and moderate leverage support financial stability.

Bear says

  • ↓Q1 revenue fell 30% YoY to $149m and missed EPS estimates, eroding investor confidence.
  • ↓Extended deal timelines and cautious clients hinder M&A activity and backlog conversion.
  • ↓10% workforce reduction, including partners, may disrupt client relationships.
  • ↓Negative growth, profit and revision trends indicate declining business momentum.
  • ↓Low dividend yield and high volatility may deter income and risk-averse investors.
  • ↓Elevated short interest reflects bearish sentiment and potential further price weakness.

Investment themes with PWP

Capital Markets↓ -0.02%

Debt and equity trading fueling economic growth

SNEX · AAMI · PWP
Brokerages↓ -0.12%

GS · MS · SCHW

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-02-2026neutral

Transcript signals

Bull points

  • Our adjusted compensation margin was 79% of revenues for the quarter, above the intended 67% indicated on our fourth quarter call.
  • Our adjusted non-compensation expense was $37 million in the quarter, down 24% versus a year ago, a direct result of prudent cost management, which we expect to sustain through the year.
  • in the first quarter, we returned nearly $64 million to equity holders through dividends and RSU settlements.

Bear points

  • may take a little bit longer, it's a little bit rate driven, but also when you really do subsurface work on the s&p 500, you know, you go below the top seven and anything around AI, your multiples are actually quite quite a lot lower. in many, many industries than where they were in 21 and 22 when a lot of these transactions by sponsors were affected.
  • Oil prices above $90. It makes the transaction dynamics quite challenging for M&A. So usually we see a cessation of activity, which we have seen. I think there's only been eight transactions in energy announced all year. I think there's only three above a billion dollars, which will kind of be in our sweet spot. So it's a very, very, very limited market right now.
  • $149 million down 30% from our record first quarter last year.
Read full transcript analysis ›