StepStone Group (NASDAQ:STEP) Posts Earnings Results, Beats Estimates By $0.05 EPS

StepStone Group (NASDAQ:STEP) released its earnings results on Thursday. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05, Briefing.com reports. The company had revenue of $177.36 million during the quarter, compared to the consensus estimate of $162.47 million. During the same quarter in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis.

StepStone Group Stock Performance

Shares of NASDAQ:STEP opened at $41.71 on Friday. The business has a fifty day moving average of $36.24 and a 200-day moving average of $32.90. The firm has a market cap of $4.60 billion, a PE ratio of 46.34 and a beta of 1.23. StepStone Group has a twelve month low of $19.83 and a twelve month high of $41.80.

Wall Street Analysts Forecast Growth

STEP has been the subject of a number of research reports. Barclays raised their price objective on StepStone Group from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday. UBS Group lifted their price target on shares of StepStone Group from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. TheStreet lowered shares of StepStone Group from a “b-” rating to a “c+” rating in a report on Friday, February 9th. Oppenheimer assumed coverage on shares of StepStone Group in a report on Wednesday, March 20th. They set an “outperform” rating and a $48.00 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of StepStone Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $49.00 in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group currently has a consensus rating of “Hold” and an average price target of $35.79.

Insiders Place Their Bets

In other StepStone Group news, Director Thomas Keck sold 3,694 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $35.47, for a total value of $131,026.18. Following the completion of the transaction, the director now directly owns 200,750 shares of the company’s stock, valued at $7,120,602.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 19.89% of the company’s stock.

StepStone Group Company Profile

StepStone Group LP. 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, private equity and buyout investments in mature and middle market companies.