Financials·Asset Management & Custody Banks·$4.2B
StepStone Group Inc A (STEP) operates in the financial sector, specifically in asset management and custody banking. The company plays a crucial role in managing investments for clients, which is especially important in a fluctuating market environment where effective asset management can significantly impact returns.
Earnings Per Share (EPS)
EPS is a key indicator of a company's profitability and is closely watched by investors.
Assets Under Management (AUM)
AUM reflects the total market value of assets that StepStone manages, indicating the scale and success of its investment strategies.
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EPS Beat Streak
2Q
EPS Beat Rate
75%
Avg EPS Surprise
+14.68%
Avg Stock Reaction
-1.03%
In Q3 2026, StepStone reported an EPS of $0.65, exceeding expectations by 9.24%. However, the stock fell 7.50% the following day, indicating market skepticism despite the earnings beat.
Management Promises & Guidance
Overall expectations for StepStone's upcoming earnings are mixed, given the recent volatility in stock price despite positive EPS surprises.
Bull Case
If StepStone can demonstrate strong growth in AUM and maintain high client retention, it could lead to increased investor confidence and stock appreciation.
Bear Case
Conversely, any signs of declining AUM or client losses could raise concerns about the company's future profitability, leading to further stock declines.
Earnings Per Share (EPS)
N/AEPS is a key indicator of a company's profitability and is closely watched by investors.
Assets Under Management (AUM)
N/AAUM reflects the total market value of assets that StepStone manages, indicating the scale and success of its investment strategies.
Client Retention Rate
N/AThis metric shows how well the company maintains its client base, which is vital for sustained revenue growth.
The print will turn on these two things.
Q1
What is the current AUM and how does it compare to previous quarters?
AUM growth is critical for StepStone's revenue and profitability, and any decline could signal trouble.
Q2
What is the client retention rate for this quarter?
High client retention is essential for sustained revenue, and any drop could negatively impact investor sentiment.
Why consensus could be wrong
The Street may be underestimating StepStone's potential for AUM growth, especially if they can leverage new client relationships and investment strategies.
Supporting Evidence
The company has consistently beaten EPS estimates, indicating stronger underlying performance than expected.
Recent trends in the asset management industry suggest a shift towards firms with robust client service, which StepStone emphasizes.
Key Risk
If AUM growth exceeds expectations, it could significantly alter market perceptions.
Pre-commit to what would confirm each case.
The market is closely watching AUM and client retention as indicators of future performance.
Bull Confirmed If
AUM growth of over 10% quarter-over-quarter would confirm the bull case.
Bear Confirmed If
A decline in AUM or client retention below 85% would confirm the bear case.
Implied Move
±N/A
There is currently no options market data available to gauge investor sentiment ahead of the earnings report.
Cross-company pattern from 30 similar setups.
Prior-quarter beat setup in Financials
n=30Fade rate: X of Y (Z%)
This setup has occurred 30 times across Financials in the last 2 years. The average absolute 1-day move is 1.5%, with a raw directional average of +0.4% (modestly positive historical bias).
Likely market behavior by outcome — not investment advice.
Beat & Raise
If StepStone beats expectations and raises guidance, history suggests a potential stock increase of around 2.21%.
In-Line / Cautious
An in-line report with cautious management commentary could lead to a muted reaction, reflecting uncertainty.
Miss
If the company misses expectations, history suggests a potential decline of around 1.44%.
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May 19, 2026