StepStone Group (NASDAQ:STEP) Price Target Raised to $65.00

StepStone Group (NASDAQ:STEP) had its target price raised by equities researchers at UBS Group from $55.00 to $65.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 7.83% from the company’s current price.

Other analysts have also recently issued reports about the stock. Barclays raised their price target on shares of 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 price target on shares of StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Oppenheimer raised their price target on shares of StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group presently has a consensus rating of “Hold” and an average price target of $54.69.

StepStone Group Price Performance

StepStone Group stock opened at $60.28 on Tuesday. The firm’s 50 day simple moving average is $56.01 and its 200-day simple moving average is $47.24. The company has a market cap of $6.67 billion, a P/E ratio of 66.88 and a beta of 1.28. StepStone Group has a fifty-two week low of $25.06 and a fifty-two week high of $61.48.

StepStone Group (NASDAQ:STEP) last released its earnings results 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 firm had revenue of $186.40 million during the quarter, compared to analysts’ expectations of $181.15 million. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $0.26 earnings per share. On average, analysts expect that StepStone Group will post 1.83 EPS for the current fiscal year.

Institutional Trading of StepStone Group

A number of institutional investors have recently added to or reduced their stakes in STEP. Price T Rowe Associates Inc. MD lifted its stake in StepStone Group by 150.0% in 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 last quarter. Principal Financial Group Inc. lifted its stake in shares of StepStone Group by 991.1% in the second quarter. Principal Financial Group Inc. now owns 291,530 shares of the company’s stock worth $13,378,000 after buying an additional 264,811 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $51,185,000 after buying an additional 225,201 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of StepStone Group in the second quarter worth $5,254,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of StepStone Group by 333.4% in the second quarter. Thrivent Financial for Lutherans now owns 126,617 shares of the company’s stock worth $5,810,000 after buying an additional 97,401 shares during the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

StepStone Group Company Profile

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.