StepStone Group (NASDAQ:STEP) Price Target Raised to $61.00

Key Points

• Barclays raised its price target on StepStone Group from $55.00 to $61.00 and kept an "overweight" rating, implying about a 23.44% upside from the prior close.
• Analyst consensus remains a "Moderate Buy" with a consensus target of $75.25; seven analysts rate the stock Buy, two Hold and one Sell, reflecting a wide range of price targets.
• StepStone beat EPS expectations ($0.65 vs. $0.60) while revenue of $241.13M missed estimates but rose 102.7% year‑over‑year, and the board authorized a $100M share repurchase (about 1.8% of shares).

StepStone Group (NASDAQ:STEP - Get Free Report) had its price target raised by stock analysts at Barclays from $55.00 to $61.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 23.44% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. Morgan Stanley set a $72.00 target price on shares of StepStone Group in a research report on Tuesday, January 27th. JPMorgan Chase & Co. upped their target price on shares of StepStone Group from $84.00 to $91.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Oppenheimer cut their price objective on shares of StepStone Group from $105.00 to $104.00 and set an "outperform" rating on the stock in a report on Monday, February 9th. UBS Group assumed coverage on shares of StepStone Group in a report on Thursday, April 2nd. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Evercore set a $73.00 price objective on shares of StepStone Group in a report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.25.

StepStone Group Price Performance

Shares of STEP stock traded up $2.24 during trading hours on Wednesday, reaching $49.42. 225,251 shares of the company were exchanged, compared to its average volume of 1,236,152. StepStone Group has a fifty-two week low of $40.58 and a fifty-two week high of $77.79. The stock's fifty day moving average is $51.64 and its two-hundred day moving average is $60.52. The company has a market cap of $5.89 billion, a price-to-earnings ratio of -7.12 and a beta of 1.32.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.05. StepStone Group had a negative net margin of 30.66% and a positive return on equity of 31.44%. The company had revenue of $241.13 million for the quarter, compared to analyst estimates of $363.92 million. During the same period in the prior year, the business earned $0.44 earnings per share. StepStone Group's quarterly revenue was up 102.7% on a year-over-year basis. On average, research analysts anticipate that StepStone Group will post 1.82 earnings per share for the current year.

StepStone Group declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at StepStone Group

In related news, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $72.52, for a total transaction of $725,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On StepStone Group

A number of hedge funds and other institutional investors have recently made changes to their positions in STEP. Wellington Management Group LLP raised its holdings in shares of StepStone Group by 65.2% during the third quarter. Wellington Management Group LLP now owns 5,723,073 shares of the company's stock worth $373,774,000 after acquiring an additional 2,257,880 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of StepStone Group during the third quarter worth $50,859,000. Vanguard Group Inc. raised its holdings in shares of StepStone Group by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 8,449,878 shares of the company's stock worth $542,229,000 after acquiring an additional 728,410 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of StepStone Group by 16.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,102,666 shares of the company's stock worth $327,439,000 after acquiring an additional 724,201 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of StepStone Group by 320.8% during the third quarter. Ameriprise Financial Inc. now owns 749,841 shares of the company's stock worth $48,972,000 after acquiring an additional 571,643 shares during the period. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Company Profile

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone's integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.

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