
StepStone Group (STEP) Stock Forecast & Price Target
StepStone Group (STEP) Analyst Ratings
Bulls say
StepStone Group is viewed favorably because it delivered a standout Q2/27, with ANI/share of $0.66 beating the $0.53 estimate and $0.56 consensus, while management fees, FRE, and realized carry all exceeded expectations. The company’s fundraising engine remains strong, highlighted by $43B LTM fundraising, $1.7B in in-quarter evergreen subscriptions, and private wealth AUM above $23B with only about 2% redemptions, supporting durable fee growth and scalability. Its valuation also looks compelling at 14.1x NTM ANI versus a 22.3x historical average, and the mature carry portfolio plus strong exit activity provide a credible path to margin expansion and continued earnings growth.
Bears say
StepStone Group is viewed negatively because its downside case hinges on slower FBC growth to a 10% CAGR, with flagship fundraising falling below expectations and FRE margin staying below 40% while monetizations fail to accelerate meaningfully. Its valuation is also vulnerable to de-rating to 15x NTM ANI, well below historical levels, which would reflect weaker confidence in future earnings durability and capital realization. In addition, SPRING represents nearly half of wealth NAV, so a sustained VC downturn could significantly pressure platform NAV and reduce incentive fee generation.
This aggregate rating is based on analysts' research of StepStone Group and is not a guaranteed prediction by Public.com or investment advice.
StepStone Group (STEP) Analyst Forecast & Price Prediction
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StepStone Group (STEP) Analyst Forecast & Price Prediction
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