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

StepStone Group (NASDAQ:STEP) had its target price boosted by investment analysts at UBS Group from $55.00 to $65.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 9.19% from the company’s previous close.

Several other equities research analysts also recently issued reports on STEP. Evercore ISI increased their price objective on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their target price on StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Oppenheimer increased their price objective on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, StepStone Group presently has an average rating of “Hold” and a consensus price target of $54.69.

StepStone Group Stock Performance

NASDAQ:STEP traded down $0.25 on Tuesday, reaching $59.53. The company’s stock had a trading volume of 42,744 shares, compared to its average volume of 572,398. StepStone Group has a 1-year low of $25.06 and a 1-year high of $61.48. The business’s 50-day moving average price is $55.81 and its two-hundred day moving average price is $47.07. The firm has a market cap of $6.59 billion, a PE ratio of 66.14 and a beta of 1.28.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.13. The business had revenue of $186.40 million during the quarter, compared to analyst estimates of $181.15 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. StepStone Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that StepStone Group will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of StepStone Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,270,144 shares of the company’s stock valued at $167,749,000 after buying an additional 90,974 shares during the last quarter. Wasatch Advisors LP grew 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 valued at $105,385,000 after acquiring an additional 46,860 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of StepStone Group during the 1st quarter worth about $149,000. Oppenheimer Asset Management Inc. raised its holdings in shares of StepStone Group by 7.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,225 shares of the company’s stock valued at $1,295,000 after purchasing an additional 2,587 shares during the period. Finally, ProShare Advisors LLC lifted its stake in StepStone Group by 10.8% in the 1st quarter. ProShare Advisors LLC now owns 9,898 shares of the company’s stock valued at $354,000 after purchasing an additional 963 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.

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.