StepStone Group (NASDAQ:STEP) Upgraded at Royal Bank Of Canada

StepStone Group (NASDAQ:STEP) was upgraded by stock analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other brokerages also recently weighed in on STEP. Morgan Stanley cut their target price on shares of StepStone Group from $72.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Oppenheimer dropped their price target on shares of StepStone Group from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of StepStone Group in a research report on Monday, July 20th. Evercore reiterated an “outperform” rating and issued a $56.00 price objective on shares of StepStone Group in a research note on Friday, August 7th. Finally, Barclays lifted their target price on StepStone Group from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.56.

StepStone Group Stock Performance

NASDAQ STEP opened at $48.92 on Wednesday. The company has a market cap of $5.84 billion, a P/E ratio of -6.34 and a beta of 1.29. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a 50-day moving average of $47.00 and a two-hundred day moving average of $47.72. StepStone Group has a 1-year low of $38.85 and a 1-year high of $77.79.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). StepStone Group had a positive return on equity of 43.38% and a negative net margin of 30.53%.The business had revenue of $300.60 million for the quarter, compared to analyst estimates of $309.32 million. As a group, analysts anticipate that StepStone Group will post 2.5 EPS for the current year.

Institutional Trading of StepStone Group

Several institutional investors have recently modified their holdings of the stock. Essential Partners LLC raised its holdings in shares of StepStone Group by 17,350.0% in the first quarter. Essential Partners LLC now owns 698 shares of the company’s stock valued at $33,000 after buying an additional 694 shares during the last quarter. Quarry LP raised its stake in StepStone Group by 155.7% during the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in StepStone Group during the 2nd quarter worth approximately $46,000. EverSource Wealth Advisors LLC lifted its position in StepStone Group by 332.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,236 shares of the company’s stock worth $69,000 after acquiring an additional 950 shares during the period. Finally, Quadrant Capital Group LLC purchased a new position in shares of StepStone Group in the 3rd quarter valued at approximately $73,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.

About StepStone Group

StepStone Group, Inc is a global investment firm focused on the private markets. The company designs and manages investment programs for institutional investors, family offices, private wealth clients and other organizations seeking access to private-market opportunities.

Its activities include investing in and managing portfolios of private equity, venture capital, private debt, real estate and infrastructure investments. StepStone provides customized portfolios, primary fund investments, secondary-market transactions, co-investments and advisory services across these asset classes.

Founded in 2013, StepStone serves clients through a global network of offices and investment professionals.