JPMorgan Chase & Co. Increases StepStone Group (NASDAQ:STEP) Price Target to $61.00

StepStone Group (NASDAQ:STEP) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $56.00 to $61.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.44% from the stock’s previous close.

STEP has been the subject of several other research reports. Barclays increased their price target on StepStone Group from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Evercore ISI lifted their price target on StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Morgan Stanley upped their price objective on shares of StepStone Group from $43.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. The Goldman Sachs Group lifted their target price on shares of StepStone Group from $51.50 to $57.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, UBS Group boosted their target price on shares of StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, StepStone Group has an average rating of “Hold” and an average price target of $47.19.

StepStone Group Stock Up 1.5 %

Shares of STEP opened at $58.97 on Tuesday. StepStone Group has a 52-week low of $25.06 and a 52-week high of $59.06. The stock has a market cap of $6.52 billion, a PE ratio of 65.52 and a beta of 1.28. The firm’s fifty day moving average is $52.67 and its two-hundred day moving average is $44.67.

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

Hedge Funds Weigh In On StepStone Group

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in StepStone Group by 9.8% in the fourth quarter. Wellington Management Group LLP now owns 6,994,497 shares of the company’s stock valued at $222,635,000 after purchasing an additional 627,059 shares during the period. Vanguard Group Inc. raised 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 period. Wasatch Advisors LP lifted its stake 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 acquiring an additional 46,860 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in StepStone Group by 25.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock valued at $51,185,000 after acquiring an additional 225,201 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in StepStone Group by 150.0% in 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 in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.

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.