StepStone Group Inc. (STEP) Stock Price & Analysis
StepStone Group Inc. (STEP) closed at USD 42.98 on Wednesday, October 28, 2026, up 2.48% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 41.94; the Oct 28, 2026 session ranged USD 41.58–43.05 on volume of 800,043 shares. Market capitalization is $5.55B, with a 52-week range of USD 38.85–77.8 (NMS). Source: Nexqual, retrieved October 29, 2026 at 05:15 UTC.
Also available as compact Markdown for AI agents: nexqual.com/STEP.md
Key facts (STEP)
- Last four reported quarters (through Jun 30, 2026): revenue $2.01B, net income -$613M (-30.5% margin), free cash flow -$439M (SEC filings).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $9.6M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $5.0M; 1 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.80 on a 1–5 scale) (10 analysts), mean target USD 64.7 (range 48–87).
- Total return with dividends: 1Y -28.7% vs S&P 500 +13.6%; 5Y +6.2% vs S&P 500 +79.8%.
- Next earnings: 2026-11-05, EPS estimate USD 0.56, revenue estimate $325M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (STEP)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.37B | -$67.6M | $712M | $1.17B | $1.99B | $2.01B |
| Net income | $194M | -$18.4M | $58.1M | -$180M | -$536M | -$613M |
| EPS (diluted) | $3.84 | -$0.30 | $0.91 | -$2.52 | -$6.78 | — |
| Free cash flow | $212M | $146M | $142M | $59.8M | $63.9M | -$439M |
| Net margin | 14.2% | 27.2% | 8.2% | -15.3% | -26.9% | -30.5% |
| Revenue growth | +73.4% | -104.9% | +1153.1% | +65.1% | +69.7% | — |
| Cash + short-term investments | $116M | $130M | $182M | $290M | $1.12B | — |
| Total debt | $62.9M | $98.4M | $149M | $269M | — | — |
Fiscal years end Mar. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (STEP)
P/S 2.8x · FCF yield -7.92% · Earnings yield -11.05% · Dividend yield (paid, TTM) 2.45%
P/E at fiscal year-ends: Mar 2024 40.9x.
Insider sales (SEC Form 4, open-market, last ~7 months) (STEP)
1 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-01…2026-06-03 | Fernandez Jose A | Co-Chief Operating Officer | 202,290 | $9.6M | 11.1% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (STEP)
1 purchase, $5.0M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-11 | McCabe Michael I | Head of Strategy | 120,000 | $5.0M | 41.85 | Opportunistic (traded every year 2023–2025, no repeating month) |
Analysts (STEP)
Consensus Buy (mean 1.80 on a 1–5 scale), 10 analysts; mean target USD 64.7 (low 48, high 87).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-27 | BMO Capital | Target lowered | Outperform | $58 → $48 |
| 2026-10-02 | Wells Fargo | Initiated | Overweight | $55 |
| 2026-09-10 | RBC Capital | Initiated | Outperform | $65 |
| 2026-08-27 | Oppenheimer | Target lowered | Outperform | $90 → $88 |
| 2026-08-07 | UBS | Target raised | Buy | $63 → $69 |
| 2026-08-07 | Barclays | Target raised | Overweight | $60 → $62 |
| 2026-08-07 | Evercore ISI Group | Target raised | Outperform | $50 → $56 |
| 2026-07-21 | Morgan Stanley | Target lowered | Equal-Weight | $72 → $63 |
| 2026-07-13 | Evercore ISI Group | Target lowered | Outperform | $60 → $50 |
| 2026-07-13 | BMO Capital | Target lowered | Outperform | $62 → $50 |
| 2026-07-09 | Barclays | Target lowered | Overweight | $62 → $60 |
Total return (dividends reinvested) (STEP)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -28.7% | +6.2% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -28.8% | +1.2% |
| Volatility (annualized) | 48.3% | 40.2% |
| Max drawdown | -46.9% (Jan 2026→Jun 2026) | -58.3% (Nov 2021→May 2023) |
STEP earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | $0.48 | $0.50 | Miss −4.0% | -6.8% |
| May 20, 2026 | Quarter ended Mar 31, 2026 | $0.57 | $0.50 | Beat +14.0% | +4.2% |
| Feb 5, 2026 | Quarter ended Dec 31, 2025 | $0.65 | $0.60 | Beat +8.3% | -2.4% |
| Nov 6, 2025 | Quarter ended Sep 30, 2025 | $0.54 | $0.49 | Beat +10.2% | -2.4% |
| Aug 7, 2025 | — | — | — | — | +0.2% |
| May 22, 2025 | — | — | — | — | +4.4% |
| Feb 6, 2025 | — | — | — | — | -0.5% |
| Nov 7, 2024 | — | — | — | — | +2.9% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
STEP recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Sep 8, 2026 | 8-K | Shareholder vote results |
| Aug 7, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 6, 2026 | 8-K | Quarterly results |
| Jul 31, 2026 | Schedule 13G/A | Integrated Core Strategies (US) LLC, Millennium Management LLC: 6.8% of shares, passive 5%+ holder (amended) |
| Jul 21, 2026 | DEFA14A | Additional proxy material |
| Jul 21, 2026 | DEF 14A | Proxy statement (pay, board, votes) · period ended Sep 8, 2026 |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
STEP revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Management and advisory fees, net | $269.2M | 71.0% | +27.5% |
| — Management & Advisory Fees Net Focused Commingled Funds (part of Management and advisory fees, net) | $170.8M | 45.1% | +44.0% |
| — Management & Advisory Fees Net Separately Managed Accounts (part of Management and advisory fees, net) | $75.3M | 19.9% | +7.0% |
| — Management & Advisory Fees Net Advisory & Other Services (part of Management and advisory fees, net) | $19.5M | 5.1% | -2.4% |
| — Management & Advisory Fees Net Fund Reimbursement Revenues (part of Management and advisory fees, net) | $3.6M | 1.0% | +64.7% |
| Performance fees | $109.7M | 29.0% | -28.3% |
| — Unrealized (part of Performance fees) | $44.0M | 11.6% | -50.5% |
| — Legacy Greenspring carried interest allocations (part of Performance fees) | $37.2M | 9.8% | -6.2% |
| — Realized (part of Performance fees) | $28.6M | 7.5% | +17.1% |
| Carried interest allocations | $72.5M | 19.1% | -36.0% |
| Income Based Incentive Fees | $7.0M | 1.8% | +59.1% |
| Total revenue | $378.9M | 100% | — |
STEP revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $280.6M | 74.1% | +106.3% |
| Non-U.S. countries | $98.3M | 25.9% | -56.9% |
| Total revenue | $378.9M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
STEP suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | StepStone Group Private Debt | “The Transaction Agreements provide for, among other things and subject to the terms and conditions therein, the exchange of the sellers' equity interests in the Asset Class Entities, as applicable, for a combination of (i) Class D units of the Partnership, in the case of SRA and SRE, or shares of Class A common stock of SSG, in the case of SPD, and (ii) cash (at our discretion for all exchanges except the initial …” |
| Partner | StepStone Private Wealth | “Under our option agreement with respect to SPW, we may purchase certain profits interests of SPW and the purchase price for such purchases may be substantial.” |
| Partner | If StepStone Group | “If StepStone Group Inc. were deemed an "investment company" under the Investment Company Act of 1940 as a result of its ownership of the Partnership or the General Partner, applicable restrictions could make it impractical for us to continue our business as contemplated and could have a material adverse effect on our business.” |
Quoted from the company's 10-K filed May 27, 2026.
STEP analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.56 | $0.56 | -0.5% | $325.3M | 9 |
| Next quarter (ends Dec 2026) | $0.75 | $0.72 | +5.0% | $587.3M | 9 |
| Current fiscal year (ends Mar 2027) | $2.46 | $2.43 | +1.2% | $1.61B | 10 |
| Next fiscal year (ends Mar 2028) | $3.40 | $3.30 | +3.1% | $1.90B | 10 |
STEP options: expected move
Options price a move of about ±13.6% (±$5.83) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 23 | 63.9% | ±13.6% |
| Dec 18, 2026 | 51 | 56.1% | ±17.5% |
| Mar 19, 2027 | 142 | 53.1% | ±26.9% |
| Jun 17, 2027 | 232 | 52.3% | ±33.4% |
30-day implied volatility 59.7% vs 34.6% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 29, 2026 at 05:15 UTC)
| Price | USD 42.98 |
|---|---|
| Change | ▲ 2.48% (up) |
| Previous Close | USD 41.94 |
| Open | USD 41.94 |
| Day Range | USD 41.58 – 43.05 |
| 52-Week Range | USD 38.85 – 77.8 |
| Volume | 800,043 shares |
| Market Cap | $5.55B |
| Exchange | NMS |
Technical Analysis (STEP)
Nexqual's technical model rates STEP "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 29, 2026 at 05:15 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 44.3 (neutral) |
| vs SMA50 | Below (USD 46.31) |
| MACD | -1.01 (negative) |
Analyst Ratings (STEP)
Wall Street analysts rate STEP "Buy" based on 10 analysts, with a mean price target of USD 64.7 (range USD 48–87), per Nexqual as of October 29, 2026 at 05:15 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 10 |
| Mean Target | USD 64.7 |
| High Target | USD 87 |
| Low Target | USD 48 |
| Buy / Hold / Sell | 9 / 1 / 0 |
Earnings (STEP)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.56 |
| Revenue Estimate | $325.32M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.48 vs est 0.5 ▼ miss |
| 2026-03-31 | USD 0.57 vs est 0.5 ▲ beat |
| 2025-12-31 | USD 0.65 vs est 0.6 ▲ beat |
| 2025-09-30 | USD 0.54 vs est 0.49 ▲ beat |
Source: Nexqual, October 29, 2026 at 05:15 UTC.
Financials & Fundamentals (STEP)
| Total Revenue | $2.01B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +4.00% |
| Gross Margin | -48.37% |
| Operating Margin | -54.05% |
| Profit Margin | -30.54% |
| ROE | -61.40% |
| Debt / Equity | 1.26 |
| Current Ratio | 0.64 |
| Total Cash | $702.52M |
| Total Debt | $1.57B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$439.39M (-21.9% of revenue) |
Source: Nexqual, October 29, 2026 at 05:15 UTC.
Financial Health Score (STEP)
Nexqual rates StepStone Group Inc.'s overall financial health "Weak" across five dimensions, as of October 29, 2026 at 05:15 UTC.
| Growth | Strong — Revenue +36% YoY (annual) |
|---|---|
| Profitability | Critical — Gross margin -48%, operating -54% (last 12 months) |
| Balance Sheet | Weak — $378M cash and investments vs $270M debt (Dec 2025, SEC), net cash |
| Cash Flow | Weak — FCF negative: -$439M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE not meaningful (negative equity); ROA -7.9% (last 4 quarters, SEC) |
Ownership (STEP)
| Insider Ownership | +5.54% |
|---|---|
| Institutional Ownership | +98.27% |
| Shares Outstanding | 82.29M |
| Float | 75.36M |
| Short % of Float | +8.49% |
Source: Nexqual, October 29, 2026 at 05:15 UTC.
Leadership (STEP)
StepStone Group Inc. is led by Scott Hart, CEO, Partner & Director, per Nexqual as of October 29, 2026 at 05:15 UTC.
| CEO, Partner & Director | Scott Hart |
|---|---|
| Co-Founder & Executive Chairman | Monte M. Brem |
| Partner, Head of Research and Portfolio Management & Vice Chairman | Thomas Keck |
| Partner, President & Co-COO | Jason Paul Ment |
| Partner & CFO | David Yongil Park |
Major Backers & Investors (STEP)
Notable institutional backers of StepStone Group Inc. include Millennium Management, Wellington Management, Price (T.Rowe) Associates Inc, according to Nexqual as of October 29, 2026 at 05:15 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Millennium Management | 6.83% |
| Wellington Management | 6.31% |
| Price (T.Rowe) Associates Inc | 6.28% |
| SmallCap World Fund Inc | 3.85% |
| Capital Group | 3.07% |
| T. Rowe Price | 2.55% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 14.55% |
| Vanguard Group | 9.99% |
| State Street | 3.79% |
| Geode Capital | 2.45% |
Source: Nexqual, October 29, 2026 at 05:15 UTC.
From StepStone Group Inc.'s Latest SEC 10-K Filing (filed 2026-05-27)
Key Strengths & Strategy (as disclosed to the SEC)
- Our proprietary data and technology platforms, including SPI by StepStone ("SPI"), a platform comprising SPI Research, our private markets intelligence database, SPI Reporting, our performance monitoring software, and SPI Pacing, our portfolio cash flow, investment allocation and liquidity forecasting tool provide valuable information advantages, enhance our private markets insight, improve operational efficiency and facilitate portfolio monitoring and reporting functions.
- We have a dedicated Data Analytics & Technology Solutions ("DATS") team, which manages and continues to develop our SPI Research and SPI Reporting platforms (and our additional proprietary tools built on these platforms) and supports our efforts to be a market leader in an area that is essential to evaluating private markets.
- Mandates for portfolio analytics and reporting services typically include licensed access to our proprietary performance monitoring software, SPI Reporting.
- We have significant expertise in customized offerings given our scale, which enables us to maintain a proprietary database across key facets of private markets investing, and our research-focused culture, which enables us to utilize this information advantage to inform our investment decisions and deliver highly customized insights and services to our clients.
Partnerships
- We have seen this pattern developing across many geographies, including Europe, the Middle East, Latin America, Australia, Japan, South Korea, Southeast Asia and China, and have positioned ourselves to take advantage of it by establishing local presence with global investment capabilities.
- As of April 1, 2026, 117 partners led the firm, with an average of over 20 years of investment or industry experience.
Legal & Regulatory Risks (Item 1A, quoted)
- We may face damage to our professional reputation if our services are not regarded as satisfactory or for other reasons and may face legal liability to our clients and third parties under securities or other laws and regulations.
- We operate in an industry subject to numerous regulations and any failure to comply with government regulations to which we are subject could adversely affect us.
- Evolving laws and government regulations could adversely affect us.
- Future changes to tax laws or our effective tax rate could materially adversely affect our company and reduce net returns to our stockholders.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BXSL | Blackstone Secured Lending Fund | USD 23.2 | ▲ 0.39% |
| PDI | PIMCO Dynamic Income Fund | USD 14.1 | ▲ 0.21% |
| VCTR | Victory Capital Holdings, Inc. | USD 111.87 | ▲ 1.12% |
| AMG | Affiliated Managers Group, Inc. | USD 393.24 | ▲ 0.32% |
| SEIC | SEI Investments Company | USD 103.2 | ▲ 0.31% |
| IVZ | Invesco Ltd | USD 28.68 | ▲ 0.88% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 05:15 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt