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

StepStone Group (NASDAQ:STEP) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $56.00 to $61.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 5.65% from the company’s previous close.

A number of other brokerages have also weighed in on STEP. Barclays lifted their target price on StepStone Group from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. The Goldman Sachs Group increased their target price on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley boosted their price target on StepStone Group from $43.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI raised their price objective on StepStone Group from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, UBS Group increased their price objective on StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, StepStone Group presently has an average rating of “Hold” and an average price target of $47.19.

StepStone Group Stock Up 1.6 %

STEP traded up $0.91 during trading hours on Tuesday, reaching $57.74. 525,140 shares of the company’s stock traded hands, compared to its average volume of 577,552. The firm has a 50-day moving average price of $52.27 and a 200 day moving average price of $44.39. StepStone Group has a 52-week low of $25.06 and a 52-week high of $58.17. The firm has a market capitalization of $6.39 billion, a PE ratio of 64.23 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.13. The firm had revenue of $186.40 million for the quarter, compared to the consensus estimate of $181.15 million. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. Equities analysts predict that StepStone Group will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in StepStone Group in the 2nd quarter worth $111,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of StepStone Group during the 1st quarter worth about $149,000. Acadian Asset Management LLC purchased a new position in StepStone Group in the 2nd quarter valued at about $206,000. MQS Management LLC acquired a new stake in StepStone Group in the 1st quarter worth about $243,000. Finally, XTX Topco Ltd purchased a new stake in StepStone Group during the 2nd quarter worth approximately $266,000. 55.54% of the stock is 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.