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

StepStone Group (NASDAQ:STEP) had its price target raised by equities researchers at Oppenheimer from $56.00 to $73.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 19.71% from the company’s current price.

A number of other analysts also recently issued reports on STEP. Morgan Stanley increased their price target on shares of StepStone Group from $52.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of StepStone Group from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. UBS Group increased their target price on shares of StepStone Group from $44.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on shares of StepStone Group from $51.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Evercore ISI raised their price objective on shares of StepStone Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday. 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.com, the company presently has an average rating of “Hold” and a consensus price target of $53.44.

StepStone Group Stock Up 0.0 %

NASDAQ STEP opened at $60.98 on Wednesday. The firm has a market cap of $6.75 billion, a PE ratio of 80.24 and a beta of 1.28. The company has a 50 day moving average price of $55.37 and a 200 day moving average price of $46.54. StepStone Group has a 52 week low of $25.06 and a 52 week high of $61.48.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.48 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 analysts’ expectations of $181.15 million. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. On average, equities research analysts anticipate that StepStone Group will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On StepStone Group

Several hedge funds have recently modified their holdings of STEP. Wellington Management Group LLP grew 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 acquiring an additional 627,059 shares in the last quarter. Vanguard Group Inc. raised its position in StepStone Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,270,144 shares of the company’s stock worth $167,749,000 after acquiring an additional 90,974 shares in the last quarter. Wasatch Advisors LP increased its stake in StepStone Group by 1.6% in 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 in the last quarter. Bank of New York Mellon Corp increased its stake in StepStone Group by 25.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,384 shares of the company’s stock worth $51,185,000 after purchasing an additional 225,201 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 worth $30,396,000 after purchasing an additional 510,283 shares in the last quarter. 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.