JP Morgan Downgrades Sterling Check (STER)
Fintel reports that on March 1, 2024, JP Morgan downgraded their outlook for Sterling Check (NasdaqGS:STER) from Overweight to Neutral .
Analyst Price Forecast Suggests 12.25% Downside
As of February 24, 2024, the average one-year price target for Sterling Check is 14.43. The forecasts range from a low of 12.12 to a high of $16.80. The average price target represents a decrease of 12.25% from its latest reported closing price of 16.44.
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The projected annual revenue for Sterling Check is 893MM, an increase of 24.03%. The projected annual non-GAAP EPS is 1.44.
What is the Fund Sentiment?
There are 238 funds or institutions reporting positions in Sterling Check. This is an increase of 2 owner(s) or 0.85% in the last quarter. Average portfolio weight of all funds dedicated to STER is 0.10%, an increase of 2.11%. Total shares owned by institutions decreased in the last three months by 0.16% to 82,329K shares. 
The put/call ratio of STER is 0.43, indicating a bullish outlook.
What are Other Shareholders Doing?
Goldman Sachs Group holds 49,808K shares representing 52.83% ownership of the company. In it's prior filing, the firm reported owning 49,808K shares, representing a decrease of 0.00%. The firm decreased its portfolio allocation in STER by 1.45% over the last quarter.
Wellington Management Group Llp holds 9,012K shares representing 9.56% ownership of the company. In it's prior filing, the firm reported owning 9,117K shares, representing a decrease of 1.17%. The firm decreased its portfolio allocation in STER by 85.39% over the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 5,681K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 4,922K shares, representing an increase of 13.35%. The firm increased its portfolio allocation in STER by 26.62% over the last quarter.
Progeny 3 holds 3,839K shares representing 4.07% ownership of the company. No change in the last quarter.
Lazard Asset Management holds 1,538K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 1,554K shares, representing a decrease of 1.05%. The firm decreased its portfolio allocation in STER by 76.78% over the last quarter.
Sterling Check Background Information
(This description is provided by the company.)
Sterling is a world-class global provider of technology-enabled background and identity verification services, powered by robust cloud platforms and differentiated by both deep market knowledge and exceptional client service. Sterling provides the foundation of trust and safety to help organizations create great environments for their most essential resource, people. Sterling believes everyone has the right to feel safe. Sterling empowers over 40,000 clients, including over half of the Fortune 100, to make more informed hiring decisions, enhance workplace safety, protect their brand, and mitigate risk. Headquartered in New York City with operations around the world, Sterling conducts more than 75 million background checks annually.
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This story originally appeared on Fintel.