Fintel reports that on September 5, 2023, Goldman Sachs maintained coverage of Sterling Check (NASDAQ:STER) with a Buy recommendation.

Analyst Price Forecast Suggests 11.78% Upside

As of August 31, 2023, the average one-year price target for Sterling Check is 15.50. The forecasts range from a low of 14.14 to a high of $17.85. The average price target represents an increase of 11.78% from its latest reported closing price of 13.87.

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The projected annual revenue for Sterling Check is 804MM, an increase of 8.81%. The projected annual non-GAAP EPS is 1.20.

What is the Fund Sentiment?

There are 230 funds or institutions reporting positions in Sterling Check. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to STER is 0.08%, an increase of 21.04%. Total shares owned by institutions decreased in the last three months by 2.82% to 80,604K shares. The put/call ratio of STER is 1.57, indicating a bearish outlook.

What are Other Shareholders Doing?

Goldman Sachs Group holds 49,809K shares representing 51.71% ownership of the company. In it's prior filing, the firm reported owning 59,958K shares, representing a decrease of 20.37%. The firm increased its portfolio allocation in STER by 196.91% over the last quarter.

Wellington Management Group Llp holds 8,174K shares representing 8.49% ownership of the company. In it's prior filing, the firm reported owning 5,876K shares, representing an increase of 28.11%. The firm increased its portfolio allocation in STER by 45.95% over the last quarter.

VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 3,959K shares representing 4.11% ownership of the company. No change in the last quarter.

Progeny 3 holds 3,839K shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 3,213K shares, representing an increase of 16.32%. The firm increased its portfolio allocation in STER by 17.41% over the last quarter.

Lazard Asset Management holds 1,960K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 1,231K shares, representing an increase of 37.17%. The firm increased its portfolio allocation in STER by 359.92% 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.

Additional reading:

• Sterling Reports Second Quarter 2023 Results Continued Successful Execution Towards 2023 Goals and Long-Term Strategy Extended Exclusive Partnership with ID.me Through 2028, Continuing Our Focus on Expanding Identity Verification Solutions
• STERLING CHECK CORP. EMPLOYEE STOCK PURCHASE PLAN ARTICLE I INTRODUCTION
• Sterling Appoints Independent Director Kristin Johnsen to its Board of Directors Global Business Leader to Serve as a Member of the Board, Audit Committee and Nominating & Corporate Governance Committee