StepStone Group (STEP)
NASDAQFinancialsAsset ManagementSnapshot 2026-10-29
$43.22-2.81%
Close 2026-10-30 · 1-day change
NASDAQFinancialsAsset ManagementSnapshot 2026-10-29
Research Workspace
Put STEP beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Asset Management & Custody Banks is in steady. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Improve cash from operations toward positive: Comparison needs review.
View ThesisRevenue is growing steadily — about 48% over the past year.
View GrowthRanks in the weakest quality tier of its industry — roughly the bottom 14%, softest on free-cash-flow margins.
View QualityManagement screens weak on capital allocation, earnings delivery, the balance sheet.
View ManagementExpectations look high — what the market is pricing in runs ahead of what analysts forecast.
View ValuationThis stock is volatile — it swings about 2% on a typical day and fell roughly 48% in its worst 12-month stretch.
View RiskStepStone’s growth case rests on expanding assets under management and fee-earning capital, despite its latest revenue slowdown. First-quarter fiscal 2027 revenue grew 4% year over year, after 70% growth in the prior quarter. The latest quarter missed non-GAAP EPS consensus by 7.7%. STEP trades at 20× P/E versus the 14× peer median, with expectations that the market prices more growth than forecast. Our model puts the next-quarter miss probability near 29%. Cash from operations remains a pressure point, though its comparison needs review. Peer multiples imply a price about 13% below where it trades (it looks expensive on this basis); the thesis is on watch, and this read is provisional.
Trailing returns as of 2026-10-30. STEP is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 10 analysts currently covering STEP (as of Oct 2026).
Based on 7 Wall Street analysts offering 12-month price targets for STEP in the last 4 months.
Continue this research
Compare STEP with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
Compare now without an account. Saving and monitoring require an account.
| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| STEP Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 8 valuation methods, at three horizons. As of 2026-10-29. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Asset Management & Custody Banks — fair value, gap to price, and forward P/E.
Compare the value case
Put STEP next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Grow assets under management and fee-earning capital
Wealth platform aligns with growth in assets under management.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-10-30. EPS is implied from price ÷ P/E. Not investment advice.
Current $43.22
The last 12 months of price, then the range of analyst 12-month targets from today’s $43.22.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Bottom 25% on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Advances: Achieve EPS of $0.65 for fiscal year 2026
Insider buying indicates confidence in future earnings growth.
Advances: Complete strategic acquisitions
Completing acquisitions supports growth strategy.
Advances: Improve cash from operations
Signals strong operational cash growth.
Advances: Achieve EPS of $0.65 for fiscal year 2026
Record earnings indicate strong performance.
Advances: Achieve EPS of $0.65 for fiscal year 2026
Strong FRE growth supports EPS target.
Advances: Achieve EPS of $0.65 for fiscal year 2026
Price target increase reflects positive outlook.