StepStone Group Inc. (NASDAQ:STEP) Stock Has Average Price Target of $67.22 According to Brokerages

Key Points

• Analysts maintain a Moderate Buy consensus on StepStone Group, with eight buys, two holds and one sell among 11 brokerages. The average 12-month price target is $67.22, well above the stock’s $42.04 opening price.
• StepStone reported quarterly earnings of $0.48 per share, missing the $0.50 consensus estimate, while revenue of $300.6 million fell short of the $309.32 million forecast. The company has a negative net margin of 30.53% but a 43.38% return on equity.
• The company raised its quarterly dividend to $0.33 per share, equivalent to an annualized $1.32 payout and a 3.1% yield. Institutional investors own 55.54% of the stock.

Shares of StepStone Group Inc. (NASDAQ:STEP - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $67.22.

Several equities research analysts have commented on the stock. Oppenheimer dropped their price target on shares of StepStone Group from $90.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, August 27th. Wall Street Zen lowered shares of StepStone Group from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. UBS Group boosted their price objective on shares of StepStone Group from $63.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of StepStone Group in a research note on Friday, October 16th. Finally, Wells Fargo & Company started coverage on StepStone Group in a research note on Friday, October 2nd. They set an "overweight" rating and a $55.00 price target for the company.

StepStone Group Stock Performance

STEP stock opened at $42.04 on Monday. The stock's 50 day simple moving average is $46.73 and its 200 day simple moving average is $47.39. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.22. StepStone Group has a 12-month low of $38.85 and a 12-month high of $77.79. The firm has a market cap of $5.02 billion, a P/E ratio of -5.45 and a beta of 1.29.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $300.60 million for the quarter, compared to the consensus estimate of $309.32 million. StepStone Group had a negative net margin of 30.53% and a positive return on equity of 43.38%. As a group, equities research analysts predict that StepStone Group will post 2.52 EPS for the current year.

StepStone Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.33 per share. This is an increase from StepStone Group's previous quarterly dividend of $0.28. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, August 31st. StepStone Group's dividend payout ratio (DPR) is currently -17.10%.

Hedge Funds Weigh In On StepStone Group

A number of hedge funds and other institutional investors have recently made changes to their positions in STEP. Hsbc Holdings PLC acquired a new stake in StepStone Group during the first quarter valued at approximately $3,898,000. Tidal Investments LLC raised its stake in shares of StepStone Group by 11.8% in the second quarter. Tidal Investments LLC now owns 314,523 shares of the company's stock worth $13,009,000 after acquiring an additional 33,210 shares during the last quarter. Advent International L.P. acquired a new position in shares of StepStone Group during the first quarter valued at $5,733,000. Engle Capital Management L.P. boosted its stake in StepStone Group by 82.5% in the first quarter. Engle Capital Management L.P. now owns 237,216 shares of the company's stock valued at $11,320,000 after acquiring an additional 107,216 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of StepStone Group by 95.6% during the 1st quarter. Lazard Asset Management LLC now owns 332,328 shares of the company's stock worth $15,859,000 after buying an additional 162,467 shares during the period. 55.54% of the stock is owned by institutional investors.

StepStone Group Company Profile

StepStone Group, Inc is a global investment firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, and other clients seeking exposure to privately held and alternative assets.

Its activities include investments in private equity, venture capital, private debt, infrastructure, and real estate. StepStone builds customized portfolios through primary investments in funds, secondary-market transactions, and direct investments in companies and assets.

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