STEP · NASDAQ · STOCK
StepStone Group (STEP) Stock Analysis
$44.06
52W $38.85 – $77.80
50/100
$5.69B
-5.7
1.28
Is STEP Bullish or Bearish?
Mixed.
Innellis AI committee rates StepStone Group Inc. (STEP) Watch with a composite score of 50/100
, based on 6 analysts with 50% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +10.47 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -9.53 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Macro Analyst sees a compelling case. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Dividend yield of 3.3% pays you to wait — Value
- Revenue growing 49.6% YoY -- genuine top-line momentum — Growth
- Weekly trend (downtrend) confirms the daily trend -- multi-timeframe agreement — Technical
Bear Case
- Price-to-book of 33.9x prices in significant intangible value — Value
- ROE of only -98.4% -- cheap may mean cheap for a reason — Value
- Debt-to-equity of 1.50 adds balance-sheet risk to the value case — Value
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- Price structure making lower highs and lower lows — Technical
- MACD histogram negative -- bearish momentum — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
50/100
Agreement
50%
Analysts
6
Conviction
Contested
Sector Rank
Top 95%
of 211 Financial Services peers
Value Analyst
bearish
32
/ 100 · Moderate confidence
Multiples don't clear a genuine value bar here, or cheapness looks justified by weak fundamentals
+ Dividend yield of 3.3% pays you to wait
− Price-to-book of 33.9x prices in significant intangible value
Growth Analyst
bullish
60
/ 100 · Moderate confidence
Strong, accelerating growth with consistent execution
+ Revenue growing 49.6% YoY -- genuine top-line momentum
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
neutral
47
/ 100 · High confidence
Mixed or range-bound price action
+ Weekly trend (downtrend) confirms the daily trend -- multi-timeframe agreement
− Price structure making lower highs and lower lows
Risk Analyst
bearish
33
/ 100 · Moderate confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 1.50) amplifies downside in a stress scenario
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
60
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 49.1 to 49.5.
- Committee agreement increased notably from 33% to 50%.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 1 signal(s) disappeared.
- Analyst(s) changed stance: News Analyst.
Analyst-level changes:
- News Analyst: stance neutral->bullish.
- Risk Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
40.0
Neutral
MACD Histogram
-0.036
Bearish Momentum
Trend Direction
Downtrend
Weekly: Downtrend
Market Structure
Hh Hl
Support
$40.65
Resistance
$52.34
Bollinger %B
0.32
Inside Bands
Price vs Moving Averages
EMA 9
$44.59
Below
EMA 21
$45.62
Below
EMA 50
$46.60
Below
EMA 200
$50.37
Below
Fundamental Analysis
Valuation
100
Growth
43
Profitability
50
Financial Health
100
Cash Flow
15
Valuation
P/E Ratio
-5.7×
P/B Ratio
-6.71×
PEG Ratio
0.04
Dividend Yield
3.90%
52W High
$77.80
52W Low
$38.85
Quality & Growth
ROE
12606.6%
ROA
-770.9%
Gross Margin
6089.7%
Operating Margin
-5821.9%
Revenue Growth YoY
—
Debt / Equity
-2.91
AI Fundamental Assessment
P/E ratio of -5.7 (inexpensive relative to a 15-40x range); Price-to-book of -6.7x; PEG ratio of 0.0 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 126.1%; Return on assets of -7.7%; Net margin of -30.5%; Gross margin of 60.9%; Current ratio of 24.59 (healthy short-term liquidity); Debt-to-equity of -2.91; Free cash flow per share is negative (-5.36); Most recent quarter missed estimates by 7.2%; EPS growth decelerating (-12.3% -> -15.8% QoQ); Analyst estimates falling over recent quarters
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