StepStone Group (NASDAQ:STEP) Given New $57.00 Price Target at The Goldman Sachs Group

StepStone Group (NASDAQ:STEP) had its target price lifted by The Goldman Sachs Group from $51.50 to $57.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 0.88% from the stock’s current price.

A number of other research firms also recently issued reports on STEP. Evercore ISI lifted their price target on shares of StepStone Group from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley lifted their price objective on StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on StepStone Group from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Barclays lifted their price target on StepStone Group from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, UBS Group increased their price objective on shares of StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.56.

StepStone Group Stock Performance

NASDAQ:STEP opened at $56.50 on Monday. StepStone Group has a 1 year low of $25.06 and a 1 year high of $58.09. The stock has a fifty day moving average price of $52.11 and a two-hundred day moving average price of $44.22. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 62.78 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.13. The company had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that StepStone Group will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in StepStone Group by 9.8% in the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock valued at $222,635,000 after purchasing an additional 627,059 shares during the period. Vanguard Group Inc. increased its holdings in shares of StepStone Group by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 5,270,144 shares of the company’s stock worth $167,749,000 after buying an additional 90,974 shares during the last quarter. Wasatch Advisors LP raised its position in shares of StepStone Group by 1.6% in the 1st quarter. Wasatch Advisors LP now owns 2,948,665 shares of the company’s stock worth $105,385,000 after buying an additional 46,860 shares during the period. Bank of New York Mellon Corp boosted its holdings in StepStone Group by 25.3% in the second quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after acquiring an additional 225,201 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in StepStone Group by 150.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 850,463 shares of the company’s stock valued at $30,396,000 after acquiring an additional 510,283 shares during the period. 55.54% of the stock is currently owned by institutional investors and hedge funds.

About StepStone Group

StepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies.