AnalystsInsight

Nathan Race (Piper Sandler): Analyst Track Record and Price‑Target Accuracy

How often Nathan Race’s price targets were reached, how fast, and what the stocks did after each call: a 7‑year backtest of 1,300 ratings, compared with the average Wall Street analyst.

Reviewed by:David, Senior AnalystPublished Oct 12, 2026Updated Oct 18, 20263 min readHow we research

What changed since Oct 12

Exent re-checks this page every day. Ratings appear 30 days after they are published; live calls are in Gems.

#419 rank (was #439)+1 new rating (ONB)+1 stock newly covered

Key takeaways

Nathan Race ranks #405 of 1,000 analysts in Exent’s scoring (4.8★).
53.9% of price targets were reached over 7 years, versus 52.4% for the average analyst.
Median time to reach a target: 127 days; 68.8% of calls were up 12 months later.
Most‑covered stocks: MSBI, ALRS, FBIZ, PRK.
Free on Exent: Nathan Race’s full record, with ratings 3 days after publication.

In this article

Nathan Race’s track record at a glance
How fast price targets were reached
Stocks Nathan Race covers most
Nathan Race’s latest ratings
How Exent scores analysts

Nathan Race’s track record at a glance

Nathan Race of Piper Sandler ranks #405 of the 1,000 analysts Exent scores, with a 4.8★ rating and a focus on financials. Over a 7‑year lookback, 53.9% of Nathan’s price targets were reached, 1.5 points above the 52.4% average across all analysts.

Metric	Nathan Race	All analysts
Price‑target hit rate	53.9%	52.4%
Median days to hit target	127 days	91 days
Calls up after 12 months	68.8%	64.0%
Median 12‑month return of calls	+14.0%	+13.4%
Hit rate, last 2 years	51.1%	—
Average worst drop after a call	−13.2%	—
Ratings in the sample	1,300	—
Stocks covered	39	—

The full records of Exent’s top 90 analysts and the top 50 of each sector, and the stocks where several of them agree right now, are members‑only in Exent Gems.

See the top-ranked analysts in Gems

How fast price targets were reached

Time to reach the target	Nathan Race
Under 30 days	15.5%
30–90 days	18.4%
90–180 days	30.4%
Over 180 days	35.7%

Share of the targets that were reached, by how long they took. Targets are usually set for 12 months.

Stocks Nathan Race covers most

Stock	Ratings in the sample
MSBI	24
ALRS	18
FBIZ	15
PRK	15
ISBA	15
CBSH	15
BUSE	14
OSBC	14

In the past year Nathan’s ratings were 47% Buy, 53% Hold and 0% Sell.

Nathan Race’s latest ratings

Date	Stock	Action	Rating	Price target
Sep 17, 2026	ONB	Initiated Coverage: Buy	Buy	$32.00
Sep 8, 2026	EQBK	Reiterated: Buy	Buy	$60.00
Sep 4, 2026	BSVN	Reiterated: Buy	Buy	$61.00
Sep 2, 2026	MBIN	Reiterated: Buy	Buy	$64.00
Aug 28, 2026	ALRS	Reiterated: Hold	Hold	$37.00
Aug 26, 2026	ASB	Initiated Coverage: Hold	Hold	$34.00
Aug 11, 2026	FRME	Reiterated: Buy	Buy	$51.00
Aug 5, 2026	CBC	Reiterated: Buy	Buy	$37.00
Aug 3, 2026	FBIZ	Reiterated: Buy	Buy	$84.00
Jul 31, 2026	ALRS	Reiterated: Hold	Hold	$37.00
Jul 31, 2026	FNWB	Reiterated: Buy	Buy	$15.00
Jul 31, 2026	INBK	Reiterated: Hold	Hold	$29.50

Sep 17, 2026
Stock
ONB
Action
Initiated Coverage: Buy
Rating
Buy
Price target
$32.00
Sep 8, 2026
Stock
EQBK
Action
Reiterated: Buy
Rating
Buy
Price target
$60.00
Sep 4, 2026
Stock
BSVN
Action
Reiterated: Buy
Rating
Buy
Price target
$61.00
Sep 2, 2026
Stock
MBIN
Action
Reiterated: Buy
Rating
Buy
Price target
$64.00
Aug 28, 2026
Stock
ALRS
Action
Reiterated: Hold
Rating
Hold
Price target
$37.00
Aug 26, 2026
Stock
ASB
Action
Initiated Coverage: Hold
Rating
Hold
Price target
$34.00
Aug 11, 2026
Stock
FRME
Action
Reiterated: Buy
Rating
Buy
Price target
$51.00
Aug 5, 2026
Stock
CBC
Action
Reiterated: Buy
Rating
Buy
Price target
$37.00
Aug 3, 2026
Stock
FBIZ
Action
Reiterated: Buy
Rating
Buy
Price target
$84.00
Jul 31, 2026
Stock
ALRS
Action
Reiterated: Hold
Rating
Hold
Price target
$37.00
Jul 31, 2026
Stock
FNWB
Action
Reiterated: Buy
Rating
Buy
Price target
$15.00
Jul 31, 2026
Stock
INBK
Action
Reiterated: Hold
Rating
Hold
Price target
$29.50

Nathan’s ratings are free on Exent 3 days after publication. Exent Gems has them the same day, with the calls of the top‑ranked analysts and the stocks where several of them agree.

See the top-ranked analysts in Gems

How Exent scores analysts

Exent replays every rating with a price target over a 7‑year lookback: was the target reached, how long it took, and what the stock returned 1, 3, 6 and 12 months after the call. The star rating and rank combine success rate, average return and the number of ratings, so a few lucky calls do not make a top analyst. Statistics as of Jun 24, 2026; ranking updated Oct 20, 2026. How accurate are analyst price targets overall?

Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.

Follow the analysts with the best records

Exent Gems shows Nathan Race’s live ratings and those of the top‑ranked analysts, without the 30‑day delay used on this page.
Gems are the stocks where several 4★+ analysts agree: Exent’s shortlist of high‑conviction ideas.
Check any idea against your own portfolio: correlation, concentration and crash exposure before you buy.

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Exent is our product. Educational content, not investment advice.

Frequently asked questions

By Exent’s scoring Nathan Race ranks #405 of 1,000 with a 4.8★ rating. 53.9% of price targets were reached over a 7-year lookback (all analysts: 52.4%), and 68.8% of calls were up 12 months later. Past accuracy does not guarantee future accuracy.

Nathan Race’s success rate is 62.6% by the ranking source and 53.9% by Exent’s price-target hit-rate backtest, with a median of 127 days to reach a target.

Nathan Race (Piper Sandler) covers 39 stocks, mostly in financials. The most frequently rated are MSBI, ALRS, FBIZ, PRK, ISBA.

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DISCLAIMER: Exent AI is an informational research platform and does not provide investment advice, financial advice, or act as an investment adviser, broker-dealer, or fiduciary. All content, analytics, and model outputs are provided for educational and informational purposes only and should not be relied upon as a recommendation to buy, sell, or hold any financial instrument. Investing involves risk, including the possible loss of principal. Exent AI does not execute trades, hold customer funds, or provide brokerage services. Past performance and hypothetical results are not indicative of future results. Third-party data and AI-generated outputs may be incomplete or inaccurate.

What changed since Oct 12

Key takeaways

Are Analyst Price Targets Accurate? 7 Years of Data

How to Follow Wall Street Analysts the Smart Way: Track Records, Not Headlines

What Are Exent Gems? Top‑Analyst Agreement Explained