StepStone Group (NASDAQ:STEP) Coverage Initiated by Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of StepStone Group (NASDAQ:STEP) in a report issued on Friday, Marketbeat reports. The brokerage set an “overweight” rating and a $55.00 price target on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 21.49% from the stock’s current price.

A number of other research firms also recently weighed in on STEP. Evercore reaffirmed an “outperform” rating and issued a $56.00 target price on shares of StepStone Group in a research report on Friday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $58.00 price objective on shares of StepStone Group in a report on Friday, August 7th. Royal Bank Of Canada assumed coverage on StepStone Group in a report on Wednesday, September 9th. They set an “outperform” rating and a $65.00 target price on the stock. Wall Street Zen cut StepStone Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Morgan Stanley decreased their price target on StepStone Group from $72.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.44.

StepStone Group Stock Performance

Shares of StepStone Group stock opened at $45.27 on Friday. 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 firm has a market cap of $5.40 billion, a price-to-earnings ratio of -5.86 and a beta of 1.29. StepStone Group has a one year low of $38.85 and a one year high of $77.79. The stock’s 50-day moving average is $47.91 and its 200-day moving average is $47.77.

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

Hedge Funds Weigh In On StepStone Group

Large investors have recently modified their holdings of the stock. Junto Capital Management LP grew its position in shares of StepStone Group by 26.1% in the second quarter. Junto Capital Management LP now owns 1,078,672 shares of the company’s stock valued at $44,614,000 after purchasing an additional 222,950 shares during the last quarter. Tidal Investments LLC increased its position in StepStone Group by 11.8% during the 2nd quarter. Tidal Investments LLC now owns 314,523 shares of the company’s stock worth $13,009,000 after buying an additional 33,210 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of StepStone Group by 45.0% during the second quarter. WINTON GROUP Ltd now owns 42,796 shares of the company’s stock worth $1,770,000 after buying an additional 13,274 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of StepStone Group by 338.9% in the second quarter. Engineers Gate Manager LP now owns 85,654 shares of the company’s stock valued at $3,543,000 after acquiring an additional 66,138 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of StepStone Group by 2.5% in the second quarter. Arizona State Retirement System now owns 19,903 shares of the company’s stock valued at $823,000 after acquiring an additional 484 shares in the last quarter. 55.54% of the stock is owned by institutional investors.

StepStone Group Company Profile

StepStone Group, Inc is a global investment firm focused on private markets. The company provides investment solutions and advisory services designed to help institutional and private wealth clients build diversified portfolios of alternative investments.

Its platform spans private equity, venture capital, private debt, infrastructure and real estate. StepStone invests through primary commitments to funds, secondary-market transactions and direct or co-investments, and also offers customized portfolios and separately managed investment solutions.

StepStone serves pension funds, sovereign wealth funds, endowments and foundations, insurance companies, family offices and private wealth investors across North America, Europe, Asia and other international markets.