Analysts Set StepStone Group Inc. (NASDAQ:STEP) Target Price at $71.88

by · The Cerbat Gem

Shares of StepStone Group Inc. (NASDAQ:STEP – Get Free Report) have been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $71.8750.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of StepStone Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. BMO Capital Markets lifted their price target on shares of StepStone Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Zacks Research downgraded shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Evercore reiterated an “outperform” rating and issued a $60.00 price target on shares of StepStone Group in a research report on Thursday, May 21st. Finally, Barclays lifted their price target on shares of StepStone Group from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st.

Get Our Latest Stock Report on StepStone Group

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its position in StepStone Group by 105.0% during the fourth quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock valued at $28,000 after purchasing an additional 212 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in StepStone Group by 2,285.7% during the third quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after purchasing an additional 480 shares in the last quarter. Quarry LP raised its position in StepStone Group by 155.7% during the third quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares in the last quarter. Fifth Third Bancorp raised its position in StepStone Group by 58.6% during the fourth quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock valued at $35,000 after purchasing an additional 201 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in StepStone Group by 127.8% during the third quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Trading Down 4.7%

NASDAQ STEP opened at $46.07 on Friday. StepStone Group has a 1-year low of $40.58 and a 1-year high of $77.79. The company has a 50 day moving average of $51.28 and a 200-day moving average of $57.65. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -6.77 and a beta of 1.29.

StepStone Group (NASDAQ:STEP – Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. StepStone Group had a negative net margin of 26.88% and a positive return on equity of 37.69%. The company had revenue of $305.84 million during the quarter, compared to the consensus estimate of $292.11 million. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that StepStone Group will post 2.57 earnings per share for the current year.

StepStone Group declared that its Board of Directors has approved a stock repurchase plan on Monday, March 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

StepStone Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, June 15th. StepStone Group’s payout ratio is currently -16.47%.

StepStone Group Company Profile

(Get Free Report)

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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