Oppenheimer analyst Chris Kotowski raised the firm’s price target on Stepstone Group (STEP) to $85 from $83 and keeps an Outperform rating on the shares. The firm notes the company reported strong Q2 adjusted net income per share of 54c versus its 48c and consensus 49c. The beat versus Oppenheimer’s estimates was mainly due to higher than modeled carried interest, which came in at $59M, $11M ahead of its $48M estimate, which is inherently lumpy.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STEP:
- StepStone Group’s Earnings Call: Growth Amidst Challenges
- Stepstone Group price target lowered to $69 from $70 at Barclays
- StepStone Group Reports Strong Revenue Growth Amid Losses
- Stepstone Group reports Q2 adjusted EPS 54c, consensus 49c
- Stepstone Group, FTSE Russell launch global private market indices