UBS Group Boosts StepStone Group (NASDAQ:STEP) Price Target 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 brokerage presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 9.19% from the company’s current price.

Several other research firms have also recently weighed in on STEP. Oppenheimer boosted their price objective on StepStone Group from $56.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Evercore ISI upped their target price on shares of StepStone Group from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. 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 research report on Tuesday, October 1st. Finally, Morgan Stanley upped their price objective on shares of StepStone Group from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.69.

StepStone Group Price Performance

STEP traded down $0.25 during midday trading on Tuesday, hitting $59.53. 42,744 shares of the company’s stock traded hands, compared to its average volume of 572,398. The company has a market cap of $6.59 billion, a PE ratio of 66.14 and a beta of 1.28. StepStone Group has a one year low of $25.06 and a one year high of $61.48. The stock’s fifty day simple moving average is $55.81 and its 200-day simple moving average is $47.07.

StepStone Group (NASDAQ:STEP) last released 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. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, research analysts expect that StepStone Group will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in 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 purchasing an additional 90,974 shares during the last quarter. Wasatch Advisors LP raised its holdings in 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. Bank of New York Mellon Corp raised its stake in shares of StepStone Group by 25.3% during 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. Price T Rowe Associates Inc. MD raised its position in shares of StepStone Group by 150.0% during the 1st 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. Finally, Dimensional Fund Advisors LP lifted its stake in StepStone Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 800,909 shares of the company’s stock valued at $36,753,000 after buying an additional 60,339 shares during the period. 55.54% of the stock is owned by institutional investors and hedge funds.

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.