StepStone Group (STEP) has received a new Buy rating, initiated by BMO Capital analyst, .
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BMO Capital’s rating is based on several compelling factors that position StepStone Group for growth. The firm is strategically poised to benefit from the expanding secondary market and is effectively leveraging its vast data resources. Recent collaborations with FTSE and Kroll underscore the potential to capitalize on proprietary data, opening up new revenue streams.
Additionally, the SPW buy-in is structured to be accretive, offering a significant growth opportunity with a call option priced attractively below the current valuation. StepStone’s private wealth platform is rapidly scaling, contributing significantly to management and advisory fees, and is supported by a growing distribution network. These elements combine to create a robust foundation for sustained earnings and growth, justifying the Buy rating.
In another report released on September 17, Goldman Sachs also upgraded the stock to a Buy with a $83.00 price target.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STEP in relation to earlier this year.