Zacks Investment Research Lowers Shutterstock Inc. (SSTK) to Sell
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 analysts have also weighed in on the stock. Cantor Fitzgerald lowered shares of Shutterstock from a buy rating to a hold rating and set a $60.00 price target for the company. in a report on Thursday, August 4th. Jefferies Group reissued a hold rating and issued a $60.00 price target on shares of Shutterstock in a report on Tuesday, September 6th. Finally, Deutsche Bank AG raised their price target on shares of Shutterstock from $42.00 to $56.00 and gave the company a hold rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Shutterstock presently has a consensus rating of Hold and a consensus price target of $55.00.
Shares of Shutterstock (NYSE:SSTK) opened at 61.78 on Tuesday. Shutterstock has a 12-month low of $25.44 and a 12-month high of $65.16. The stock has a 50 day moving average price of $61.34 and a 200-day moving average price of $49.89. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 92.35 and a beta of 1.68.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results 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 earned $124.40 million during the quarter, compared to analyst estimates of $124.29 million. Shutterstock had a net margin of 5.24% and a return on equity of 11.05%. Shutterstock’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. Equities analysts anticipate that Shutterstock will post $1.45 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in SSTK. BlackRock Fund Advisors raised its stake in Shutterstock by 159.5% in the second quarter. BlackRock Fund Advisors now owns 1,222,111 shares of the company’s stock worth $55,973,000 after buying an additional 751,111 shares in the last quarter. Copper Rock Capital Partners LLC purchased a new position in shares of Shutterstock during the second quarter worth $20,032,000. Jackson Square Partners LLC boosted its position in shares of Shutterstock by 15.1% in the first quarter. Jackson Square Partners LLC now owns 2,961,317 shares of the company’s stock worth $108,769,000 after buying an additional 388,574 shares in the last quarter. Samlyn Capital LLC boosted its position in shares of Shutterstock by 109.1% in the first quarter. Samlyn Capital LLC now owns 598,120 shares of the company’s stock worth $21,969,000 after buying an additional 312,120 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Shutterstock by 14.4% in the second quarter. Vanguard Group Inc. now owns 1,475,360 shares of the company’s stock worth $67,572,000 after buying an additional 185,887 shares in the last quarter. 64.02% of the stock is owned by hedge funds and other institutional investors.
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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