Following the conclusion of the second day of the draft, Ravens' General Manager Eric DeCosta told reporters that he viewed Stephens as a safety in the NFL.

Head coach John Harbaugh named Stephens the primary backup safety, placing him third on the depth chart behind established starters DeShon Elliott and Chuck Clark.

On November 8, 2021, the Baltimore Ravens officially placed DeShon Elliott on injured reserve for the remainder of the season due to a biceps/pectoral injury and subsequently named Stephens as the starting free safety.

[20] Head coach John Harbaugh named Stephens the fourth cornerback on the depth chart to begin the 2022 NFL season, behind Marlon Humphrey, Marcus Peters, and Kyle Fuller.

In Week 16, Stephens started at cornerback after Marcus Peters suffered a calf injury and made five combined tackles (three solo) and earned his first career sack on Desmond Ridder with teammate Patrick Queen in a 17–9 win over the Atlanta Falcons.

[25] During training camp, Stephens competed to fill the vacancy as the second starting cornerback against Kyu Blu Kelly, Jalyn Armour-Davis, Damarion Williams, Trayvon Mullen, and Ar'Darius Washington.

On January 20, 2024, Stephens earned a start in his first career playoff game and made three combined tackles (two solo) as the Ravens defeated the Houston Texans 34–10 in the AFC Divisional Round.

[29] The following week, he recorded nine combined tackles (six solo) in a 10–17 loss to the eventual Super Bowl LVIII champions the Kansas City Chiefs in the AFC Championship.

In Week 12, Stephens had three combined tackles (two solo) and was credited with the first full sack of his career on Justin Herbert in a 30–23 win at the Los Angeles Chargers.