Should I buy, hold, or sell STEP stock right now?

StepStone Group Inc. (STEP) currently earns a Roarable Rating of D (Sell — SELL) with 46/100 RQD Confidence. Stretched risk/reward at current multiples (-35% return on capital) under elevated 10-year interest-rate pressure.

What is STEP's 12-month price target and RQD AI Jury consensus?

STEP's 12-month base price target is $42.41 (range $33.08 to $81.68), backed by transparent SEC XBRL cash-flow, Form 4 insider, and CBOE options flow analysis.

Stock Ratings / Financials / STEP

MAAS (49) HLNE (66) MC (64) PJT (65) ⌘ Pro Terminal →

StepStone Group Inc. (STEP) — RQD Stock Rating Cockpit

$44.83 +3.73% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $45.05

StepStone Group Inc. (STEP) carries a Roarable Rating of D (Sell) with 46/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D • SELL / AVOID Cap $5.22B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on STEP Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is STEP stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, StepStone Group Inc. (NASDAQ: STEP) is rated D (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 46/100 at a spot price of $44.83 (+3.73% 1D, market cap $5.22B). Pillar breakdown: Fundamental Cash Engine 12/20, Institutional 13F & Options Flow 6/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 3/20, and Executive Insider Alignment 12/20. Across 1097 tracked Financials issuers, STEP ranks #750 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does STEP compare to MAAS and HLNE in the Financials sector?

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Within the Financials sector (Investment Managers), STEP carries a Roarable D (46/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, MAAS (Maase Inc. (Class A)) holds a D grade (49/100 RQD, P/E N/A, ROIC —, cap $5.42B) and HLNE (Hamilton Lane Incorporated) posts a C+ grade (66/100 RQD, P/E 18.9x, ROIC 24.7%, cap $4.62B). Among the 5-stock peer group, MC leads on earnings multiple (18.1x) while MC leads on capital efficiency (42.8% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for STEP?

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Per STEP's SEC EDGAR XBRL 10-K filing (FY2025, filed 2026-03-31, CIK 0001796022), StepStone Group Inc. generated $1.99B in revenue (+69.7% YoY), -$743.3M in net income, and $63.9M in free cash flow against $5.24B in total assets and $2.12B in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity. Primary risk factors monitored: Sensitive to high interest rates and tighter Federal Reserve market liquidity. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $45.05 (+0.48%)🧬 Disciplined Float (-0.04% YoY Shares)⚙️ Cash Engine: 12/20 (C-) • 3.2% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (46/100 · D) historically underperformed SPY in 71% of rolling 90-day windows (-6.1% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERSELL / AVOID • D

JEV AI Jury Split (Battleground)

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw D · Rk D-

Each axis scored 0–20

12M PRICE TARGET CONE-5.4% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for STEP)Realized 20D OHLCV Swing Band: ±9.8%

Deterministic 5-Pillar Attribution (46/100 Composite)

🔍 WHY STEP SCORES 46/100 (D) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: SEC 10-K Forensic Risk+13/20 pts (28% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 7/9

▲ #2 Bullish Driver: Cash Engine Quality+12/20 pts (26% of score)

SEC XBRL FY 2025 (10-K): 3.2% FCF Margin ($63.9M FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Macro Regime Fit4/20 pts (-16 pt drag)

Macro rate sensitivity & RSI-14 (47.3) create a -16 pt regime headwind

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$41.33+2.6% Next Q

Q2 (-2Q)

Grade D$42.42+1.3% Next Q

Q3 (-1Q)

Grade D$42.98+4.3% Next Q

Current

Grade D$44.83-6.1% Hist 90D α

Trajectory: E (38) → D (46)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a STEP Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While STEP currently carries a cautious 46/100 (D) rating due to Macro Regime Fit (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($45.75) and Max Pain ($47.07) forces dealer call-delta covering toward $81.68.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (-0.04% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $STEP• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “STEP Beats Next Quarter EPS Consensus (Dec 29, 2026) & Holds Above 200D SMA”

YES 46%NO 54%Trade / Inspect Odds →

RSI-14 MOMENTUMNEUTRAL RANGE

47.330 Oversold · 70 Hot

ALTMAN-Z SHIELDFORTRESS SAFE (>3.0)

3.80>3.0 Fortress Safe

PIOTROSKI F-SCOREHIGH QUALITY (7–9)

7 / 99-Pt Accounting

52-WEEK LASER RANGE15% OF RANGE

L: $39$44.83H: $78

1. Money & Cash Health● MIXED

Are profits real cash in the bank?

Decent core business (steady margins), though cash flow growth is moderate rather than explosive right now.

Factor Grade: C-RQD 12 / 20

2. Big Money & Insiders● TRIMMING

Are whales & executives buying or selling?

Insiders and big institutional desks have been trimming shares rather than stepping up to buy.

Factor Grade: DRQD 18 / 40

3. Hidden Risks & Market Weather● WARNING

SEC fine-print scan & interest-rate fit

High sensitivity to tight interest rates or new risk warnings added to recent SEC annual filings.

Factor Grade: D-RQD 16 / 40

MULTI-MODEL JEV QUANT JURY DELIBERATION

JEV AI Jury Split (Battleground) on STEP

Cash & Moat Bull AI

ROIC & Free Cash Flow Model

NEUTRAL (60)

-35.0% ROIC with 42.0% gross margin and 1.19% FCF yield.

SEC Forensic Auditor AI

10-K Accruals & Altman-Z Guard

NEUTRAL (65)

Altman-Z 4.20 and Piotroski 7/9 pass balance-sheet audit.

Whale & Macro Hawk AI

Options Skew, 13F & Fed NetLiq

BEARISH (35)

18/40 institutional & smart-money positioning score with 3/20 macro alignment.

Bull Case: Why Buyers Like STEP

✓Established market leader in Financials with deep daily trading liquidity.

Bear Case: What Could Go Wrong

!Sensitive to high interest rates and tighter Federal Reserve market liquidity.

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring STEP)

✓Walkthrough of STEP's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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Join Founding VIP Waitlist (No Card Required) →$100K Arena

STEP // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -16.98%📐 WEDGE COMPRESSION COIL

2026-11-03O $44.47H $44.83L $43.22C $44.83VOL 621.8K

RES: $50.01SUP: $40.29SMA50: $45.75SMA200: $48.97

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

STEP Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 STEP Butterfly Map → + Track STEP →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

11.2%/yr Implied 5Y Growth

vs. +69.7% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on STEP today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for STEP. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for STEP today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (STEP)

Financials Rank #750 of 1097 ⚔️ MAAS vs STEP Full Matrix →

1. Head-to-Head Financials Peer Comparison (STEP vs. MAAS, HLNE, MC, PJT)

Industry: Investment Managers (79 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, StepStone Group Inc. (STEP) ranks #750 by composite RQD confidence (46/100, grade D) and #264 by equity capitalization ($5.22B). Within this direct 5-issuer industry benchmark cohort, MC leads on earnings valuation at 18.1x trailing P/E, while MC leads on capital efficiency and profitability with 42.8% ROIC and — gross margin. HLNE currently holds the highest overall quantitative score in the immediate peer group at 66/100 (C+) compared with STEP at 46/100 (D).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
STEP ACTIVE StepStone Group Inc.	D	46/100	—	—	-35.0%	+3.73%	$5.22B	Benchmark Subject
MAAS Maase Inc. (Class A)	D	49/100	—	—	—	+1.39%	$5.42B	/maas-vs-step →
HLNE Hamilton Lane Incorporated	C+	66/100	18.9x	—	24.7%	+4.68%	$4.62B	/hlne-vs-step →
MC Moelis & Company	C	64/100	18.1x	—	42.8%	+4.08%	$4.59B	/mc-vs-step →
PJT PJT Partners Inc.	C	65/100	34.6x	—	34.8%	+2.59%	$6.14B	/pjt-vs-step →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2026-03-31 • CIK 0001796022 ↗

In its most recent audited fiscal period (FY2025, filed 2026-03-31), StepStone Group Inc. (STEP) reported GAAP revenue of $1.99B (+69.7% vs. FY2024 revenue of $1.17B , and +180.1% cumulative change since FY2023) , GAAP net income of -$743.3M, operating cash flow of $66.5M, and free cash flow of $63.9M (+6.7% YoY). On the balance sheet, STEP closed FY2025 with $5.24B in total assets against $2.12B in total debt (Altman Z-Score: N/A, Piotroski F-Score: 7/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2026-03-31	$1.99B	-$743.3M	$66.5M	$63.9M	$5.24B	$2.12B
FY2024 (FY)	2025-03-31	$1.17B	-$172.8M	$64.9M	$59.8M	$4.35B	$1.17B
FY2023 (FY)	2024-03-31	$711.6M	$167.8M	$161.5M	$129.5M	$2.95B	$690.7M

3. STEP Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is STEP stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does STEP compare to MAAS and HLNE in the Financials sector?

What are the biggest fundamental strengths and SEC risk factors for STEP?

Where is STEP trading relative to its 50-day, 200-day, and 52-week technical levels?

STEP last traded at $44.83 (+3.73% on volume of 711,564 shares), positioning the stock -2.01% below its 50-day simple moving average ($45.75) and -8.45% below its 200-day simple moving average ($48.97). Across its 52-week range of $38.85 to $77.79, STEP sits at the 15.4% percentile with a 14-day RSI of 47.3 (NEUTRAL RANGE) and an implied next-earnings move of ±9.8% ($40.44 to $49.22).

Direct Sub-Reports: STEP RQD Cockpit STEP 12M Forecast STEP Earnings & Move STEP Dividends & DRIP STEP Insiders & 13F STEP Whale Options STEP Profit Sankey STEP News & Why

ROARABLE RATING BRIEF • RQD 46/100 (D) ✓ SEC XBRL & RQD VERIFIED

STEP — StepStone Group Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2026-03-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

StepStone Group Inc. (STEP) earns a live Roarable RQD composite score of 46/100, corresponding to a D letter grade (Roarable Sell) at a spot price of $44.83 (+3.73% 1D, market capitalization $5.22B).

Fundamental Cash Engine (12/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of —, operating margin of -45.5%, and free cash flow yield of 1.19%.
Whale 13F & Options Flow (6/20) + Insider Conviction (12/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (3/20) + Forensic Balance Sheet (13/20): Incorporates a 0.92x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 7/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

. Is a NASDAQ-listed issuer in the Financials sector and the Investment Managers industry..4B. — describes its specific products, client base, or revenue model beyond the sector and industry classification.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2026-03-31), StepStone Group Inc. (STEP) reported $1.99B in annual revenue (up from $1.17B in FY2024, +69.7% YoY) and -$743.3M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($711.6M revenue, $167.8M net income) through FY2025, STEP scaled operating cash flow to $66.5M and free cash flow to $63.9M, backed by $5.24B in total assets against $2.12B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (D • RQD 46/100): Established market leader in Financials with deep daily trading liquidity. Free cash flow yield of 1.19% and institutional whale pillar of 6/20. With Fundamental Cash Engine at 12/20 and Institutional Whale Flow at 6/20, sustained execution supports upside toward the upper end of the $38.85 – $77.79 52-week range.
🐻 Primary Bear Case & Valuation Risk: Sensitive to high interest rates and tighter Federal Reserve market liquidity. Investors must weigh current valuation against -45.5% operating margins and a 0.92x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

There are no upstream or downstream links and no proprietary signals recorded for STEP. Sector correlations, bottlenecks, and dependencies are therefore — The only sector-level context provided is the Financials sector and Investment Managers industry classification from the profile, and the peer-group movement referenced in the Globe and Mail headline. A prospective investor should monitor how the broader asset-management group moves, since the news wire associates STEP with peers during the same selloff.

Key Question #1: Can STEP sustain or expand its -45.5% operating margin and -35.0% ROIC against Investment Managers peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $1.99B and free cash flow of $63.9M, how will capital allocation balance growth reinvestment against $2.12B in total debt?
Key Question #3: How sensitive is STEP's 18.0x forward P/E multiple to Financials capital spending cycles and macro interest-rate shifts (Beta 0.92x)?

STEP Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for StepStone Group Inc. (STEP) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to STEP Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo! Finance Canada • 22h ago

StepStone Group Inc. (STEP) Stock Price, News, Quote & History

Yahoo! Finance Canada report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Seeking Alpha • 1d ago

StepStone Group: Attractive Yield At A Reasonable Price (NASDAQ:STEP)

Seeking Alpha report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE GuruFocus • 1d ago

StepStone Group Inc (STEP) Stock Down 3.3% -- Now Undervalued? G

GuruFocus report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE The Globe and Mail • 1d ago

Nubank, Carlyle, StepStone Group, Cohen & Steers, and Houlihan Lokey Shares Plummet, What You Need To Know

The Globe and Mail report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Benzinga • 1d ago

StepStone Group Q1 2027 Earnings Call Transcript

Benzinga report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE MarketBeat • 1d ago

StepStone Group (NASDAQ:STEP) Shares Down 6.5% - Here's What Happened

MarketBeat report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

After markets close Nov. 5, StepStone will release its quarterly results.

Stock Titan report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Simply Wall St • 1d ago

Is StepStone Group (STEP) Fairly Valued As Its New Portfolio Tool Tries To Win Clients?

Simply Wall St report covering StepStone Group Inc. (STEP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

STEP Bull vs. Bear Conversation Board — What's Your Call at $44.83?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON STEP 🐻 33% BEARISH CONVICTION

DE DeltaGamma_99 RQD DEBATE OPENER • Options Flow Specialist 🐂 BULLISH 🎯 Target: $50.14 (+16.0%)

📌 Pinned Debate

The Forensic Balance Sheet pillar scores 13 / 20 with Altman Z 2.5 and Piotroski F 7/9, indicating solvency is comparatively sound desp

Picked up a starter position in STEP in my $100K Virtual Cash book at $43.22. The Forensic Balance Sheet pillar scores 13 / 20 with Altman Z 2.5 and Piotroski F 7/9, indicating solvency is comparatively sound despite weak operations.. Trading inside a $38.85–$77.79 52-week range with 1.19% FCF yield gives solid downside support if Investment Managers multiples expand this quarter.

VolSurface_Trader 🐂 BULL

Both sides have a point here — STEP's 13/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

ME MeanReversion_88 RQD DEBATE OPENER • Quantitative Statistical Arb 🐻 BEARISH 🎯 Target: $35.44 (-18.0%)

Spot @ $43.22

ROIC of -35% and an FCF yield of 1.19% show the business is not earning returns on invested capital, and the Macro Regime Fit pillar sc

Fading this rally in STEP at $43.22. ROIC of -35% and an FCF yield of 1.19% show the business is not earning returns on invested capital, and the Macro Regime Fit pillar scores only 4 / 20.. With a beta of 0.92 and the stock sitting at $43.22 (52-wk range $38.85–$77.79), the easy multiple expansion is already priced in.