Goldman Sachs Maintains Hold Rating for StepStone Group with a Price Target of $64.00

Goldman Sachs analyst Alexander Blostein maintained a Hold rating on StepStone Group with a price target of $64.00. Blostein has an average return of 20.8% and a 76.58% success rate on recommended stocks. The company has a one-year high of $70.38 and a one-year low of $40.07. Corporate insider sentiment is negative, with 34 insiders selling shares over the past quarter.

Goldman Sachs analyst Alexander Blostein has maintained a Hold rating on StepStone Group (STEP) with a price target of $64.00. Blostein, known for his 20.8% average return and 76.58% success rate on recommended stocks, believes the stock is undervalued. Despite the positive outlook, corporate insider sentiment remains negative, with 34 insiders selling shares over the past quarter.

StepStone Group, a private equity and venture capital firm, specializes in direct and fund-of-fund investments across various sectors, including technology, healthcare, and clean energy. The company's stock has shown resilience, trading at a one-year high of $70.38 and a one-year low of $40.07. However, the negative insider sentiment could indicate potential headwinds for the stock.

Blostein's Hold rating suggests a cautious approach, but his track record of successful recommendations offers a level of confidence. The stock's recent performance, while positive, has been modest, with a 2.5% increase from $57.88 at the start of the year to $59.34 currently. The company's earnings for the latest quarter were $0.40 per share, missing the consensus estimate of $0.42, but revenue increased by 95.4% compared to the same quarter last year.

Investors should closely monitor insider activity and earnings reports for any signs of improvement in sentiment. StepStone Group's focus on emerging markets and diverse investment strategies could present opportunities for growth, but the current market conditions and negative insider sentiment warrant a cautious approach.

References:
[1] https://www.marketbeat.com/stocks/NASDAQ/STEP/