StepStone Group (NASDAQ:STEP) Releases Earnings Results, Misses Expectations By $0.02 EPS

StepStone Group (NASDAQ:STEPGet Rating) issued its quarterly earnings results on Thursday. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02), Briefing.com reports. The company had revenue of $145.11 million during the quarter, compared to analyst estimates of $164.36 million. StepStone Group had a net margin of 13.97% and a return on equity of 12.38%. The business’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS.

STEP opened at $27.92 on Friday. The company has a fifty day moving average price of $28.50 and a two-hundred day moving average price of $34.94. StepStone Group has a 52 week low of $22.39 and a 52 week high of $55.19. The firm has a market capitalization of $3.02 billion, a PE ratio of 6.12 and a beta of 1.77.

A number of analysts recently weighed in on STEP shares. TheStreet lowered shares of StepStone Group from a “c-” rating to a “d+” rating in a report on Friday, April 29th. Morgan Stanley lowered their price target on shares of StepStone Group from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. Finally, Zacks Investment Research lowered shares of StepStone Group from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, StepStone Group presently has a consensus rating of “Hold” and an average price target of $46.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in StepStone Group during the 1st quarter worth $36,000. Royal Bank of Canada boosted 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 worth $101,000 after purchasing an additional 1,020 shares in the last quarter. Jane Street Group LLC bought a new position in shares of StepStone Group during the third quarter worth $213,000. Schonfeld Strategic Advisors LLC bought a new position in shares of StepStone Group during the fourth quarter worth $229,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of StepStone Group by 21.5% during the first quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock worth $250,000 after purchasing an additional 1,332 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

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.

See Also

Earnings History for StepStone Group (NASDAQ:STEP)

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