Jefferies Group Increases Shutterstock Price Target to $110.00 (SSTK)
Research analysts at Jefferies Group raised their target price on shares of Shutterstock (NYSE:SSTK) from $100.00 to $110.00 in a report released on Friday. Jefferies Group’s target price would suggest a potential upside of 44.41% from the company’s current price.
Shutterstock (NYSE:SSTK) traded down 2.87% on Friday, hitting $76.17. The stock had a trading volume of 336,555 shares. Shutterstock has a 52-week low of $48.05 and a 52-week high of $103.01. The stock’s 50-day moving average is $79.48 and its 200-day moving average is $77.86. The company has a market cap of $2.681 billion and a P/E ratio of 104.84.
Shutterstock (NYSE:SSTK) last announced its earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $80.24 million for the quarter, compared to the consensus estimate of $77.68 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. On average, analysts predict that Shutterstock will post $1.00 earnings per share for the current fiscal year.
In other Shutterstock news, COO Thilo Semmelbauer unloaded 5,000 shares of the stock on the open market in a transaction dated Friday, August 1st. The shares were sold at an average price of $76.31, for a total value of $381,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Shutterstock in a research note on Wednesday, May 28th. They now have a $90.00 price target on the stock. Three analysts have rated the stock with a buy rating, Shutterstock presently has an average rating of “Buy” and a consensus target price of $87.20.
Shutterstock, Inc (NYSE:SSTK) operates as a marketplace for commercial digital imagery.
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