PJT slips after Q1 revenue beat as investment banking peers post mixed results

PJT Partners (NYSE:PJT) fell 1.6% to $153.27 as of May 14, 2026, despite reporting first-quarter revenue of $418.2 million, up 28.9% from a year earlier and 2.2% above analyst estimates. Among 16 tracked investment banking and brokerage firms, first-quarter revenue exceeded consensus by an average of 0.8%, while next-quarter revenue guidance was broadly in line. The group’s shares have declined 1.2% on average since reporting results. Evercore (NYSE:EVR) posted the strongest beat, with revenue doubling to $1.40 billion, 16.6% above estimates, though its shares fell 2% to $333.57. Perella Weinberg Partners (NASDAQ:PWP) was the weakest performer, with revenue down 29.7% to $148.9 million, missing estimates by 10.5%; its stock dropped 22% to $17.73. Raymond James Financial (NYSE:RJF) revenue rose 13.4% to $3.86 billion, while Morgan Stanley (NYSE:MS) revenue increased 16% to $20.58 billion, sending MS shares up 4.1%.