Shutterfly, Inc. (NASDAQ:SFLY) Downgraded by BidaskClub
BidaskClub cut shares of Shutterfly, Inc. (NASDAQ:SFLY) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.
A number of other research analysts have also recently weighed in on SFLY. Zacks Investment Research raised shares of Shutterfly from a sell rating to a hold rating in a research report on Tuesday, April 11th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Shutterfly in a research report on Monday, April 10th. TheStreet raised shares of Shutterfly from a c rating to a b rating in a research report on Monday, April 17th. Jefferies Group LLC reaffirmed a hold rating and set a $53.00 price target (up from $46.00) on shares of Shutterfly in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada lifted their price target on shares of Shutterfly from $54.00 to $59.00 and gave the company an outperform rating in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $53.89.
Shares of Shutterfly (NASDAQ SFLY) opened at 47.62 on Friday. The firm’s 50-day moving average is $47.85 and its 200-day moving average is $48.59. Shutterfly has a 12-month low of $41.91 and a 12-month high of $53.99. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 290.37 and a beta of 0.85.
Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by $0.13. The business had revenue of $209.03 million for the quarter, compared to analyst estimates of $209.46 million. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned ($0.48) earnings per share. Equities research analysts forecast that Shutterfly will post $0.46 EPS for the current fiscal year.
Shutterfly declared that its board has approved a share repurchase program on Tuesday, April 18th that permits the company to buyback $140.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Betsy Rafael sold 1,060 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $47.76, for a total transaction of $50,625.60. Following the transaction, the director now directly owns 5,046 shares of the company’s stock, valued at $240,996.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 1,662 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $49.86, for a total transaction of $82,867.32. Following the transaction, the director now directly owns 6,799 shares in the company, valued at $338,998.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,290 shares of company stock worth $2,958,580. Corporate insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SFLY. Elkfork Partners LLC purchased a new position in Shutterfly during the first quarter worth approximately $116,000. LS Investment Advisors LLC boosted its position in Shutterfly by 132.9% in the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock worth $137,000 after buying an additional 1,648 shares during the last quarter. Meadow Creek Investment Management LLC purchased a new position in Shutterfly during the first quarter worth approximately $141,000. Ameritas Investment Partners Inc. purchased a new position in Shutterfly during the first quarter worth approximately $144,000. Finally, State of Alaska Department of Revenue purchased a new position in Shutterfly during the first quarter worth approximately $180,000.
Shutterfly Company Profile
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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