Why the high growth investor may take a look at NASDAQ:STEP.

We've identified STEPSTONE GROUP INC-CLASS A (NASDAQ:STEP) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:STEP for further developments.

Technical analysis of NASDAQ:STEP

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 9 out of 10 to STEP. Both in the recent history as in the last year, STEP has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that STEP is one of the better performing stocks in the market, outperforming 92% of all stocks. On top of that, STEP also shows a nice and consistent pattern of rising prices.
• STEP is part of the Capital Markets industry. There are 222 other stocks in this industry. STEP outperforms 95% of them.
• STEP is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so STEP is lagging the market slightly.
• In the last month STEP has a been trading in the 56.34 - 64.80 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of STEP

Looking at the Setup

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:STEP currently holds a 7 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, STEP also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 62.94, a Stop Loss order could be placed below this zone.

Some of the high growth metrics of NASDAQ:STEP highlighted

• The recent financial report of STEPSTONE GROUP INC-CLASS A demonstrates a 73.08% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• The recent q2q revenue growth of 81.36% of STEPSTONE GROUP INC-CLASS A showcases the company's ability to generate increasing revenue in a short period, reflecting its positive growth trajectory.
• The 1-year revenue growth of STEPSTONE GROUP INC-CLASS A (49.36%) has been strong, reflecting the company's ability to generate consistent sales growth. This growth suggests the company's ability to meet customer needs and expand its market share.
• The quarterly earnings of STEPSTONE GROUP INC-CLASS A have shown a 73.08% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• accelerating EPS growth for STEPSTONE GROUP INC-CLASS A: the current Q2Q growth of 73.08% exceeds the previous year Q2Q growth of -21.21%.
• With a solid Return on Equity (ROE) of 10.46%, STEPSTONE GROUP INC-CLASS A exemplifies its ability to generate favorable returns on shareholder investments. This metric demonstrates the company's commitment to maximizing shareholder value.
• STEPSTONE GROUP INC-CLASS A maintains a healthy Debt-to-Equity ratio of 0.43. This indicates the company's conservative capital structure and signifies its ability to effectively manage debt obligations while maintaining a strong equity position.
• STEPSTONE GROUP INC-CLASS A has surpassed EPS estimates 3 times in the last 4 quarters, reflecting its strong financial performance and effective management. This trend suggests the company's ability to generate positive earnings surprises and drive shareholder value.
• The Relative Strength (RS) of STEPSTONE GROUP INC-CLASS A has been consistently solid, with a current 92.13 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. STEPSTONE GROUP INC-CLASS A exhibits strong prospects for further price appreciation.

Our High Growth Momentum Breakout screen will find you more ideas suited for high growth momentum breakouts.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.