Zacks: Brokerages Expect Shutterstock, Inc. (SSTK) Will Post Quarterly Sales of $133.83 Million
Wall Street analysts expect that Shutterstock, Inc. (NYSE:SSTK) will announce $133.83 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Shutterstock’s earnings, with the lowest sales estimate coming in at $130.87 million and the highest estimate coming in at $138.49 million. Shutterstock posted sales of $123.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The firm is expected to report its next quarterly earnings results on Friday, November 3rd.
On average, analysts expect that Shutterstock will report full year sales of $133.83 million for the current fiscal year, with estimates ranging from $535.80 million to $553.68 million. For the next fiscal year, analysts expect that the company will post sales of $594.08 million per share, with estimates ranging from $580.88 million to $621.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Shutterstock.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The firm had revenue of $134 million for the quarter, compared to the consensus estimate of $137.83 million. During the same period in the previous year, the company posted $0.36 earnings per share. Shutterstock’s quarterly revenue was up 7.7% on a year-over-year basis.
Several research firms recently issued reports on SSTK. Deutsche Bank AG lowered their price objective on Shutterstock from $41.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. BidaskClub cut Shutterstock from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. TheStreet cut Shutterstock from a “b-” rating to a “c” rating in a report on Friday, July 7th. Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a report on Friday, June 23rd. Finally, Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.
Shutterstock (NYSE SSTK) opened at 34.29 on Tuesday. The company’s 50-day moving average price is $44.00 and its 200-day moving average price is $45.40. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 42.23 and a beta of 1.40. Shutterstock has a 52 week low of $34.16 and a 52 week high of $65.16.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van Berkom & Associates Inc. boosted its position in Shutterstock by 20.8% in the first quarter. Van Berkom & Associates Inc. now owns 1,297,836 shares of the business services provider’s stock worth $53,666,000 after buying an additional 223,490 shares in the last quarter. LS Investment Advisors LLC boosted its position in Shutterstock by 250.0% in the first quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock worth $107,000 after buying an additional 1,845 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Shutterstock by 10.0% in the first quarter. Bank of New York Mellon Corp now owns 307,829 shares of the business services provider’s stock worth $12,728,000 after buying an additional 28,013 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Shutterstock by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 26,434 shares of the business services provider’s stock worth $1,093,000 after buying an additional 1,218 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Shutterstock during the first quarter worth approximately $19,555,000. Hedge funds and other institutional investors own 60.56% of the company’s stock.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of 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, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.
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