Private markets investment firm StepStone Group (NASDAQ: STEP) will be reporting results this Thursday after the bell. Here’s what to expect.
StepStone Group missed analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $237.5 million, up 7.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a slight miss of analysts’ revenue estimates.
Is StepStone Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting StepStone Group’s revenue to grow 27.1% year on year to $265.4 million, slowing from the 39.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. StepStone Group has missed Wall Street’s revenue estimates five times over the last two years.
Looking at StepStone Group’s peers in the custody bank segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Invesco delivered year-on-year revenue growth of 8.2%, beating analysts’ expectations by 38.8%, and Hamilton Lane reported revenues up 27.3%, topping estimates by 12.8%. Invesco traded up 2.7% following the results.
Read our full analysis of Invesco’s results here and Hamilton Lane’s results here.
Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the custody bank stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.2% on average over the last month. StepStone Group is down 8.8% during the same time and is heading into earnings with an average analyst price target of $75.43 (compared to the current share price of $61.83).
P.S. In tech investing, "Gorillas" are the rare companies that dominate their markets—like Microsoft and Apple did decades ago. Today, the next Gorilla is emerging in AI-powered enterprise software. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
