Analysts Set Shutterstock, Inc. (NYSE:SSTK) Price Target at $25.00

Shutterstock, Inc. (NYSE:SSTK) has been given an average rating of “Hold” by the five analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $25.00.

SSTK has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday. Zacks Research downgraded Shutterstock from a “hold” rating to a “strong sell” rating in a report on Monday, December 1st. Finally, Wall Street Zen downgraded Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Shutterstock by 12.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,901 shares of the business services provider’s stock valued at $557,000 after acquiring an additional 3,263 shares during the period. Millennium Management LLC lifted its position in Shutterstock by 109.3% during the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after purchasing an additional 327,203 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Shutterstock during the second quarter valued at $212,000. GAMMA Investing LLC grew its holdings in Shutterstock by 71.8% during the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 834 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Shutterstock by 8.7% in the second quarter. State of Alaska Department of Revenue now owns 14,475 shares of the business services provider’s stock worth $273,000 after buying an additional 1,158 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Performance

NYSE SSTK opened at $19.37 on Thursday. The company’s 50 day simple moving average is $19.21 and its two-hundred day simple moving average is $20.67. Shutterstock has a 1 year low of $14.35 and a 1 year high of $32.00. The stock has a market capitalization of $688.13 million, a PE ratio of 11.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.53 and a quick ratio of 0.53.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The company had revenue of $260.09 million for the quarter, compared to the consensus estimate of $255.60 million. During the same quarter last year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.8%. The ex-dividend date was Thursday, December 4th. Shutterstock’s payout ratio is 78.57%.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.