PJT Partners, Inc. (PJT)

NYSEFinancialsInvestment - Banking & Investment ServicesSnapshot 2026-10-23

$140.94-1.34%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge PJT Partners, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	561.77M
EPS	—	2.482
Annual ending 2026-12-31
Revenue	—	1.89B
EPS	—	7.41
Annual ending 2027-12-31
Revenue	—	2.11B
EPS	—	8.729

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
continued positive earnings surprises	A supporting condition in PJT Partners, Inc.'s published investment case. The stated target is positive EPS surprise in next 2 quarters.	Intact	two consecutive quarters with negative EPS surprises	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
EPS at or above $7.52 for FY26	A primary condition in PJT Partners, Inc.'s published investment case. The stated target is >=7.52 USD per share.	Broken	EPS falls below $4.43 in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
annual revenue growth of about 9.5%	A primary condition in PJT Partners, Inc.'s published investment case. The stated target is >=9.5% YoY.	Improving	annual revenue growth falls below 7% next year	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

$8.59 → Unavailable · observed estimates

FY2027 revenueUnavailable

$2.08B → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$8.59	$2,079,526,380	7 / 6
2026-07-25	$8.59	$2,079,526,380	7 / 6
2026-07-26	$8.59	$2,079,526,380	7 / 6
2026-07-27	Unavailable	Unavailable	3 / 4
2026-07-28	$8.59	$2,079,526,380	7 / 6
2026-07-29	$8.59	$2,079,526,380	7 / 6
2026-07-30	$8.59	$2,079,526,380	7 / 6
2026-07-31	Unavailable	Unavailable	3 / 4
2026-08-01	Unavailable	Unavailable	3 / 4
2026-08-02	Unavailable	Unavailable	3 / 4
2026-08-03	Unavailable	Unavailable	3 / 4
2026-08-04	$9.00	$2,169,185,860	7 / 6
2026-08-05	$9.05	$2,169,185,860	7 / 6
2026-08-06	Unavailable	Unavailable	3 / 4
2026-08-07	Unavailable	Unavailable	3 / 4
2026-08-08	Unavailable	Unavailable	3 / 4
2026-08-09	Unavailable	Unavailable	3 / 4
2026-08-10	$9.05	$2,169,185,860	7 / 6
2026-08-12	Unavailable	Unavailable	3 / 4
2026-08-13	Unavailable	Unavailable	3 / 4
2026-08-14	Unavailable	Unavailable	3 / 4
2026-08-15	Unavailable	Unavailable	3 / 4
2026-08-16	Unavailable	Unavailable	3 / 4
2026-08-17	Unavailable	Unavailable	3 / 4
2026-08-18	Unavailable	Unavailable	3 / 4
2026-08-19	Unavailable	Unavailable	3 / 4
2026-08-20	Unavailable	Unavailable	3 / 4
2026-08-21	Unavailable	Unavailable	3 / 4
2026-08-22	Unavailable	Unavailable	3 / 4
2026-08-23	Unavailable	Unavailable	3 / 4
2026-08-24	Unavailable	Unavailable	3 / 4
2026-08-25	Unavailable	Unavailable	3 / 4
2026-08-26	Unavailable	Unavailable	3 / 4
2026-08-27	Unavailable	Unavailable	3 / 4
2026-08-28	Unavailable	Unavailable	3 / 4
2026-08-29	Unavailable	Unavailable	3 / 4
2026-08-30	Unavailable	Unavailable	3 / 4
2026-08-31	Unavailable	Unavailable	3 / 4
2026-09-01	Unavailable	Unavailable	3 / 4
2026-09-02	Unavailable	Unavailable	3 / 4
2026-09-03	Unavailable	Unavailable	3 / 4
2026-09-04	Unavailable	Unavailable	3 / 4
2026-09-05	Unavailable	Unavailable	3 / 4
2026-09-06	Unavailable	Unavailable	3 / 4
2026-09-07	Unavailable	Unavailable	3 / 4
2026-09-08	Unavailable	Unavailable	3 / 4
2026-09-09	Unavailable	Unavailable	3 / 4
2026-09-10	Unavailable	Unavailable	3 / 4
2026-09-11	Unavailable	Unavailable	3 / 4
2026-09-12	Unavailable	Unavailable	3 / 4
2026-09-13	Unavailable	Unavailable	3 / 4
2026-09-14	Unavailable	Unavailable	3 / 4
2026-09-15	Unavailable	Unavailable	3 / 4
2026-09-16	Unavailable	Unavailable	3 / 4
2026-09-17	Unavailable	Unavailable	3 / 4
2026-09-18	Unavailable	Unavailable	3 / 4
2026-09-19	Unavailable	Unavailable	3 / 4
2026-09-20	Unavailable	Unavailable	3 / 4
2026-09-21	Unavailable	Unavailable	3 / 4
2026-09-22	Unavailable	Unavailable	3 / 4
2026-09-23	Unavailable	Unavailable	3 / 4
2026-09-24	Unavailable	Unavailable	3 / 4
2026-09-25	Unavailable	Unavailable	3 / 4
2026-09-26	Unavailable	Unavailable	3 / 4
2026-09-27	Unavailable	Unavailable	3 / 4
2026-09-28	Unavailable	Unavailable	3 / 4
2026-09-29	Unavailable	Unavailable	3 / 4
2026-09-30	Unavailable	Unavailable	3 / 4
2026-10-01	Unavailable	Unavailable	3 / 4
2026-10-02	Unavailable	Unavailable	3 / 4
2026-10-03	Unavailable	Unavailable	3 / 4
2026-10-04	Unavailable	Unavailable	3 / 4
2026-10-05	Unavailable	Unavailable	3 / 4
2026-10-06	Unavailable	Unavailable	3 / 4
2026-10-07	Unavailable	Unavailable	3 / 4
2026-10-08	Unavailable	Unavailable	3 / 4
2026-10-09	Unavailable	Unavailable	3 / 4
2026-10-10	Unavailable	Unavailable	3 / 4
2026-10-11	Unavailable	Unavailable	3 / 4
2026-10-12	Unavailable	Unavailable	3 / 4
2026-10-13	Unavailable	Unavailable	3 / 4
2026-10-14	Unavailable	Unavailable	3 / 4
2026-10-15	Unavailable	Unavailable	3 / 4
2026-10-16	Unavailable	Unavailable	3 / 4
2026-10-17	Unavailable	Unavailable	3 / 4
2026-10-18	Unavailable	Unavailable	3 / 4
2026-10-19	Unavailable	Unavailable	3 / 4
2026-10-20	Unavailable	Unavailable	3 / 4
2026-10-21	Unavailable	Unavailable	3 / 4
2026-10-22	Unavailable	Unavailable	3 / 4
2026-10-23	Unavailable	Unavailable	3 / 4
2026-10-24	Unavailable	Unavailable	3 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	3	3	1
2026-06-01	3	3	1
2026-07-01	3	3	1
2026-08-01	3	3	1
2026-09-01	3	3	1
2026-10-01	3	4	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 3 Buy / Strong Buy · 4 Hold · 1 Sell / Strong Sell

0 upgrades1 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 3 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

UBSOct 7 · prior Jul 29

$176.00 → $165.00-6.3%

Capital One FinancialOct 6

$160.00New observation · no comparable prior

Goldman SachsOct 1

$182.00New observation · no comparable prior

$0$100.10$200.20

0 raises · 1 cuts · 0 unchanged · 2 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

continued positive earnings surprisesDirect metric needs a verified mapping
EPS at or above $7.52 for FY26Published status: Broken
annual revenue growth of about 9.5%Direct metric needs a verified mapping

Next proof point

Nov 3, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.4%Typical daily move · historical

Downside history

-32.5%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

PJT Partners, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

PJT is a growth-oriented financial advisory business whose results can be sensitive to sector conditions and earnings swings. Its long-term thesis is intact this month: recent performance is strong, and management’s growth priorities appear on track, but earnings quality remains fragile.

What's priced into PJT Partners, Inc.

The evidence tags the current expectations as justified, with low priced-in fragility rather than a broad mix of expensive valuation, weak execution, and turbulence. The expectations gap is negative, but the snapshot does not provide enough valuation detail to label the shares cheap, fair, or expensive versus peers.

What the fundamentals likely do

Recent results are strong: revenue rose 20% and adjusted pretax income rose 39% from 2025-Q2 to 2026-Q2. Management has repeatedly emphasized long-term investment and client service, and reported results support progress on those priorities; share repurchases have also continued. Near-term miss risk is described as low, but prior deep misses and a downward trend in earnings surprises remain risks, alongside a possible guidance cut.

What PJT Partners, Inc. hinges on

Over the next few quarters, the thesis depends on continued execution and whether guidance remains steady; a guidance cut would be a meaningful negative. Sector conditions also matter: falling rates are identified as a headwind, while continued strong results and higher guidance from sector bellwethers could support momentum. The CFO transition is a recent event, but the evidence gives no further detail on its effect.