StepStone Group (NASDAQ:STEP) Price Target Cut to $38.00

StepStone Group (NASDAQ:STEPGet Rating) had its target price cut by equities researchers at JPMorgan Chase & Co. from $42.00 to $38.00 in a research note issued to investors on Friday, The Fly reports. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 35.23% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of StepStone Group from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd. TheStreet lowered shares of StepStone Group from a “c-” rating to a “d+” rating in a research report on Friday, April 29th. Finally, Morgan Stanley dropped their price objective on shares of StepStone Group from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $43.00.

NASDAQ STEP opened at $28.10 on Friday. The business has a fifty day moving average price of $27.44 and a two-hundred day moving average price of $33.55. StepStone Group has a fifty-two week low of $22.39 and a fifty-two week high of $55.19. The stock has a market capitalization of $3.04 billion, a PE ratio of 6.97 and a beta of 1.75.

StepStone Group (NASDAQ:STEPGet Rating) last released its earnings results on Thursday, May 26th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $145.11 million for the quarter, compared to the consensus estimate of $164.36 million. StepStone Group had a return on equity of 11.27% and a net margin of 14.20%. The firm’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts expect that StepStone Group will post 1.33 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of StepStone Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 4,793,131 shares of the company’s stock valued at $158,461,000 after purchasing an additional 61,820 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of StepStone Group by 20.4% during the first quarter. JPMorgan Chase & Co. now owns 3,859,802 shares of the company’s stock valued at $127,605,000 after buying an additional 653,619 shares during the last quarter. BlackRock Inc. boosted its position in shares of StepStone Group by 6.9% during the first quarter. BlackRock Inc. now owns 2,921,135 shares of the company’s stock valued at $96,573,000 after buying an additional 189,267 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in StepStone Group by 76.2% in the fourth quarter. Alliancebernstein L.P. now owns 2,602,346 shares of the company’s stock valued at $108,180,000 after acquiring an additional 1,125,251 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in StepStone Group by 116.7% in the first quarter. Wellington Management Group LLP now owns 1,744,564 shares of the company’s stock valued at $57,675,000 after acquiring an additional 939,445 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

About StepStone Group (Get Rating)

StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.

Featured Articles

The Fly logo

Want More Great Investing Ideas?

Receive News & Ratings for StepStone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StepStone Group and related companies with MarketBeat.com's FREE daily email newsletter.