StepStone Group Inc. (NASDAQ:STEP) Given Consensus Rating of “Moderate Buy” by Analysts

StepStone Group Inc. (NASDAQ:STEP) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $71.75.

A number of equities research analysts have commented on the company. Barclays increased their price target on StepStone Group from $55.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $72.00 price objective on StepStone Group in a research note on Tuesday, January 27th. Wall Street Zen upgraded StepStone Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research cut StepStone Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, UBS Group started coverage on StepStone Group in a research note on Thursday, April 2nd. They issued a “buy” rating and a $60.00 price objective for the company.

StepStone Group Stock Performance

StepStone Group stock opened at $55.74 on Monday. The stock has a 50-day moving average of $48.74 and a two-hundred day moving average of $58.74. StepStone Group has a one year low of $40.58 and a one year high of $77.79. The stock has a market cap of $6.64 billion, a PE ratio of -8.03 and a beta of 1.34.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. StepStone Group had a positive return on equity of 31.44% and a negative net margin of 30.66%.The company had revenue of $241.13 million during the quarter, compared to analysts’ expectations of $363.92 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s revenue was up 102.7% compared to the same quarter last year. As a group, sell-side analysts predict that StepStone Group will post 2.1 EPS for the current fiscal year.

StepStone Group declared that its Board of Directors has initiated a stock repurchase program on Monday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STEP. Massachusetts Financial Services Co. MA raised its position in StepStone Group by 2.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 967,800 shares of the company’s stock valued at $63,207,000 after acquiring an additional 25,559 shares in the last quarter. Principal Financial Group Inc. raised its position in StepStone Group by 49.0% during the third quarter. Principal Financial Group Inc. now owns 487,461 shares of the company’s stock valued at $31,836,000 after acquiring an additional 160,318 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in StepStone Group during the third quarter valued at approximately $50,859,000. Granahan Investment Management LLC raised its position in StepStone Group by 176.5% during the third quarter. Granahan Investment Management LLC now owns 381,455 shares of the company’s stock valued at $24,913,000 after acquiring an additional 243,495 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in StepStone Group by 16.6% during the third quarter. William Blair Investment Management LLC now owns 623,919 shares of the company’s stock valued at $40,748,000 after acquiring an additional 88,794 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

About StepStone Group

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.