StepStone Group (NASDAQ:STEP) Price Target Raised to $73.00

StepStone Group (NASDAQ:STEP) had its target price boosted by research analysts at Oppenheimer from $56.00 to $73.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 21.61% from the stock’s previous close.

A number of other analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Barclays increased their price target on StepStone Group from $51.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Evercore ISI boosted their price objective on StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday. Morgan Stanley raised their target price on StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their price target on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, StepStone Group has an average rating of “Hold” and a consensus price target of $53.44.

StepStone Group Price Performance

Shares of NASDAQ:STEP opened at $60.03 on Wednesday. StepStone Group has a 1 year low of $25.06 and a 1 year high of $61.39. The firm has a market capitalization of $6.64 billion, a PE ratio of 65.44 and a beta of 1.28. The business’s 50 day moving average price is $54.76 and its 200-day moving average price is $46.34.

StepStone Group (NASDAQ:STEP) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $181.15 million. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. As a group, analysts expect that StepStone Group will post 1.83 earnings per share for the current year.

Institutional Trading of StepStone Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in StepStone Group by 20.7% during the third quarter. Creative Planning now owns 22,547 shares of the company’s stock worth $1,281,000 after buying an additional 3,873 shares during the period. Private Advisory Group LLC acquired a new position in shares of StepStone Group in the 3rd quarter worth approximately $1,109,000. CWM LLC boosted its position in shares of StepStone Group by 190.4% during the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after purchasing an additional 777 shares during the period. GAMMA Investing LLC lifted its stake in StepStone Group by 291.1% during the third quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after purchasing an additional 460 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of StepStone Group by 81.2% during the third quarter. Handelsbanken Fonder AB now owns 14,728 shares of the company’s stock worth $837,000 after buying an additional 6,600 shares during the period. 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.