StepStone Group (NASDAQ:STEP) Given New $50.00 Price Target at Morgan Stanley

StepStone Group (NASDAQ:STEPGet Rating) had its price target decreased by investment analysts at Morgan Stanley from $55.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 74.58% from the stock’s previous close.

A number of other brokerages also recently issued reports on STEP. Raymond James downgraded StepStone Group to a “market perform” rating in a report on Tuesday, January 18th. Zacks Investment Research cut shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, Evercore ISI started coverage on shares of StepStone Group in a research report on Wednesday, December 22nd. They issued an “outperform” rating and a $48.00 price target on the stock.

NASDAQ:STEP traded down $0.04 during trading hours on Wednesday, hitting $28.64. 237 shares of the company’s stock traded hands, compared to its average volume of 307,687. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 6.28 and a beta of 1.57. The company has a fifty day moving average of $32.63. StepStone Group has a 52 week low of $26.84 and a 52 week high of $55.19.

StepStone Group (NASDAQ:STEPGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. StepStone Group had a net margin of 13.97% and a return on equity of 12.38%. The business had revenue of $173.00 million during the quarter, compared to the consensus estimate of $147.40 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 79.3% on a year-over-year basis. Analysts anticipate that StepStone Group will post 1.63 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of StepStone Group by 53.5% during the second quarter. Royal Bank of Canada now owns 2,927 shares of the company’s stock valued at $101,000 after buying an additional 1,020 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in StepStone Group by 28.1% in the 2nd quarter. Wells Fargo & Company MN now owns 67,877 shares of the company’s stock valued at $2,335,000 after purchasing an additional 14,881 shares during the last quarter. Morgan Stanley increased its stake in StepStone Group by 107.4% during the 2nd quarter. Morgan Stanley now owns 200,900 shares of the company’s stock worth $6,911,000 after buying an additional 104,052 shares during the period. SG Americas Securities LLC purchased a new stake in shares of StepStone Group in the 3rd quarter valued at approximately $663,000. Finally, Victory Capital Management Inc. purchased a new position in shares of StepStone Group in the 3rd quarter valued at $2,893,000.

About StepStone Group (Get Rating)

StepStone Group Inc 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, and buyout investments in mature and middle market companies.

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