Shutterstock Inc. (SSTK) Downgraded by Zacks Investment Research
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
A number of other research analysts have also weighed in on the company. Jefferies Group reissued a hold rating and issued a $62.00 price objective (up from $60.00) on shares of Shutterstock in a report on Friday, September 16th. Cantor Fitzgerald reissued a hold rating on shares of Shutterstock in a report on Friday, September 9th. Finally, Deutsche Bank AG increased their price objective on Shutterstock from $42.00 to $56.00 and gave the company a hold rating in a report on Tuesday, August 9th. Six analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average target price of $55.00.
Shutterstock (NYSE:SSTK) opened at 62.84 on Wednesday. The stock has a market capitalization of $2.20 billion, a PE ratio of 93.93 and a beta of 1.67. Shutterstock has a 12-month low of $25.44 and a 12-month high of $65.16. The company has a 50-day moving average price of $60.94 and a 200-day moving average price of $49.21.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $124.40 million for the quarter, compared to analyst estimates of $124.29 million. Shutterstock had a return on equity of 11.05% and a net margin of 5.24%. The company’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Analysts expect that Shutterstock will post $1.45 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of SSTK. Mason Street Advisors LLC bought a new stake in Shutterstock during the second quarter valued at approximately $171,000. Royal Bank of Canada raised its stake in shares of Shutterstock by 79.7% in the second quarter. Royal Bank of Canada now owns 2,929 shares of the company’s stock valued at $134,000 after buying an additional 1,299 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Shutterstock by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,989 shares of the company’s stock valued at $3,160,000 after buying an additional 1,320 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Shutterstock by 3.4% in the second quarter. Stifel Financial Corp now owns 27,995 shares of the company’s stock valued at $1,282,000 after buying an additional 909 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Shutterstock by 356.9% in the second quarter. Legal & General Group Plc now owns 16,642 shares of the company’s stock valued at $760,000 after buying an additional 13,000 shares during the last quarter. 64.02% of the stock is currently owned by hedge funds and other institutional investors.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content.
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