StepStone Group (NASDAQ:STEP) PT Raised to $60.00 at Morgan Stanley

StepStone Group (NASDAQ:STEP) had its target price increased by Morgan Stanley from $52.00 to $60.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 0.05% from the company’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group raised their price target on shares of StepStone Group from $51.50 to $57.00 and gave the company a “neutral” rating in a report on Monday, September 30th. UBS Group raised their price objective on shares of StepStone Group from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Evercore ISI raised their price objective on shares of StepStone Group from $41.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. 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 report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of StepStone Group from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. 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 company has an average rating of “Hold” and a consensus price target of $49.44.

StepStone Group Trading Up 0.6 %

STEP opened at $59.97 on Thursday. The company has a fifty day simple moving average of $54.19 and a 200 day simple moving average of $45.84. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 78.91 and a beta of 1.28. StepStone Group has a twelve month low of $25.06 and a twelve month high of $61.39.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STEP. GAMMA Investing LLC lifted its position in shares of StepStone Group by 291.1% in the 3rd quarter. GAMMA Investing LLC now owns 618 shares of the company’s stock worth $35,000 after buying an additional 460 shares during the last quarter. CWM LLC lifted its position in shares of StepStone Group by 190.4% in the 3rd quarter. CWM LLC now owns 1,185 shares of the company’s stock worth $67,000 after buying an additional 777 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of StepStone Group in the 2nd quarter worth about $111,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of StepStone Group in the 1st quarter worth about $149,000. Finally, Acadian Asset Management LLC bought a new stake in StepStone Group in the 2nd quarter valued at about $206,000. 55.54% of the stock is currently owned by institutional investors.

About StepStone Group

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.