Equity Profile

STEP

StepStone Group Inc.

FinancialsAsset Management & Custody Banks$3.5B

Aug6Thu

Pre-Earnings Brief

UpcomingQ1-2027After Close5:00 PM EDT

Company Snapshot

StepStone Group Inc. operates in the financial sector, focusing on asset management and custody banking....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and performance, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to attract and retain clients, essential for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

STEP Q1-2027 Earnings Preview

Context

Company Snapshot

StepStone Group Inc. operates in the financial sector, focusing on asset management and custody banking. With a market cap of $3 billion, the company plays a crucial role in managing investments for clients, which is particularly relevant in today's fluctuating economic environment.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+13.92%

Avg Stock Reaction

-1.26%

Last Quarter Recap

In Q4-2026, StepStone reported an EPS of $0.57, beating estimates by 11.76%. However, the stock saw a slight decline of 0.99% the following day, indicating mixed investor sentiment despite the positive earnings surprise.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent track record of beating EPS estimates. However, the lack of revenue guidance raises concerns about future growth.

Bull Case

If StepStone continues its trend of beating EPS estimates, it could signal strong operational efficiency and client retention, leading to a positive stock reaction.

Bear Case

Conversely, a miss on EPS or any negative commentary regarding revenue growth could lead to a significant downturn, as investors may question the company's future prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current level of Assets Under Management (AUM) and how does it compare to previous quarters?

AUM is a critical indicator of the company's growth and ability to attract new clients, which will heavily influence investor sentiment.

Can management provide any guidance on revenue growth for the upcoming quarters?

Clear revenue guidance will help investors gauge the company's future performance and stability, impacting stock valuation.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating StepStone's ability to grow AUM despite economic headwinds, as recent trends indicate strong client retention.

Supporting Evidence

The company has consistently beaten EPS estimates, suggesting operational strength.

Options pricing indicates a larger potential move than historical averages, reflecting heightened uncertainty.

Recent performance trends in the asset management sector show resilience despite market fluctuations.

Key Risk

If AUM growth exceeds expectations, it could significantly alter the market's perception of the company's stability.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the company's ability to maintain or grow its AUM and provide clear revenue guidance.

Bull Confirmed If

AUM growth of over 10% quarter-over-quarter would confirm strong client acquisition and retention.

Bear Confirmed If

A decline in AUM or a significant miss on EPS could signal underlying issues in the business model.

Pre-Earnings Positioning

Options Market

Implied Move

±15.51%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant move, indicating heightened uncertainty or anticipation surrounding the earnings report.

Options are pricing ±15.5% while STEP has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

40.2%

Calls (27K)P/C Ratio: 3.34Puts (273K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 11 of 25 (44%)

This setup has occurred 30 times across Financials in the last 2 years. 11 of 25 faded and 14 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.5%, with a raw directional average of -0.1% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If StepStone beats expectations and raises guidance, history suggests a positive stock reaction, potentially around a 2.23% increase.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see little movement or a slight decline.

Miss

A miss on earnings could lead to a downturn, with historical patterns suggesting an average decline of around 1.44%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on client acquisition strategies and their effectiveness.
2Details on market conditions affecting AUM and revenue growth.
3Management's outlook on the competitive landscape in asset management.
4Insights into operational efficiencies that may impact future profitability.
5Any commentary on macroeconomic factors influencing investment decisions.

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Company Snapshot

StepStone Group Inc. operates in the financial sector, focusing on asset management and custody banking....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and performance, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to attract and retain clients, essential for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

STEP Q1-2027 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+13.92%

Avg Stock Reaction

-1.26%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If StepStone continues its trend of beating EPS estimates, it could signal strong operational efficiency and client retention, leading to a positive stock reaction.

Bear Case

Conversely, a miss on EPS or any negative commentary regarding revenue growth could lead to a significant downturn, as investors may question the company's future prospects.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current level of Assets Under Management (AUM) and how does it compare to previous quarters?

AUM is a critical indicator of the company's growth and ability to attract new clients, which will heavily influence investor sentiment.

Can management provide any guidance on revenue growth for the upcoming quarters?

Clear revenue guidance will help investors gauge the company's future performance and stability, impacting stock valuation.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating StepStone's ability to grow AUM despite economic headwinds, as recent trends indicate strong client retention.

Supporting Evidence

The company has consistently beaten EPS estimates, suggesting operational strength.

Options pricing indicates a larger potential move than historical averages, reflecting heightened uncertainty.

Recent performance trends in the asset management sector show resilience despite market fluctuations.

Key Risk

If AUM growth exceeds expectations, it could significantly alter the market's perception of the company's stability.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the company's ability to maintain or grow its AUM and provide clear revenue guidance.

Bull Confirmed If

AUM growth of over 10% quarter-over-quarter would confirm strong client acquisition and retention.

Bear Confirmed If

A decline in AUM or a significant miss on EPS could signal underlying issues in the business model.

Pre-Earnings Positioning

Options Market

Implied Move

±15.51%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant move, indicating heightened uncertainty or anticipation surrounding the earnings report.

Options are pricing ±15.5% while STEP has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

40.2%

Calls (27K)P/C Ratio: 3.34Puts (273K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 11 of 25 (44%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If StepStone beats expectations and raises guidance, history suggests a positive stock reaction, potentially around a 2.23% increase.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see little movement or a slight decline.

Miss

A miss on earnings could lead to a downturn, with historical patterns suggesting an average decline of around 1.44%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on client acquisition strategies and their effectiveness.
2Details on market conditions affecting AUM and revenue growth.
3Management's outlook on the competitive landscape in asset management.
4Insights into operational efficiencies that may impact future profitability.
5Any commentary on macroeconomic factors influencing investment decisions.