StepStone Group (NASDAQ:STEP) PT Raised to $55.00 at Evercore ISI

StepStone Group (NASDAQ:STEP) had its price target upped by research analysts at Evercore ISI from $52.00 to $55.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential downside of 7.03% from the stock’s previous close.

STEP has been the subject of several other research reports. Barclays increased their price objective on StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley raised their target price on StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their price objective on StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. UBS Group lifted their target price on StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upped their price target on StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, StepStone Group has an average rating of “Hold” and a consensus price target of $50.31.

StepStone Group Stock Performance

NASDAQ STEP opened at $59.16 on Monday. StepStone Group has a fifty-two week low of $25.06 and a fifty-two week high of $61.39. The stock has a 50 day simple moving average of $54.76 and a two-hundred day simple moving average of $46.34. The stock has a market cap of $6.55 billion, a P/E ratio of 65.73 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. During the same quarter last year, the business posted $0.26 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that StepStone Group will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On StepStone Group

Several hedge funds and other institutional investors have recently modified their holdings of STEP. Wellington Management Group LLP increased its holdings in shares of StepStone Group by 9.8% in the 4th quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock valued at $222,635,000 after acquiring an additional 627,059 shares during the period. Vanguard Group Inc. increased its stake in 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 in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of StepStone Group by 74.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 50,099 shares of the company’s stock worth $1,791,000 after purchasing an additional 21,354 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of StepStone Group by 1.6% during the 1st quarter. Wasatch Advisors LP now owns 2,948,665 shares of the company’s stock worth $105,385,000 after purchasing an additional 46,860 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in StepStone Group during the first quarter worth $149,000. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

About StepStone Group

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