Jefferies Group Reaffirms “Hold” Rating for Shutterfly Inc. (SFLY)
Shutterfly Inc. (NASDAQ:SFLY)‘s stock had its “hold” rating reissued by analysts at Jefferies Group in a research note issued on Thursday. They currently have a $55.00 target price on the stock. Jefferies Group’s price target suggests a potential upside of 24.43% from the stock’s current price.
The analysts wrote, “Amazon released Amazon Prints, a service for Amazon users to print photos and photo books directly from Amazon Photos. Market reaction has been markedly negative for SFLY following the announcement, but it is unclear to us the immediate impact on SFLY’s business.””
SFLY has been the topic of a number of other reports. Barclays PLC boosted their price objective on Shutterfly from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Needham & Company LLC restated a “buy” rating on shares of Shutterfly in a research report on Monday, June 27th. Goldman Sachs Group Inc. boosted their price objective on Shutterfly from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded Shutterfly from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, July 19th. Finally, Robert W. Baird restated an “outperform” rating and set a $59.00 price objective on shares of Shutterfly in a research report on Wednesday, September 14th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Shutterfly currently has an average rating of “Buy” and an average price target of $52.92.
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Shutterfly (NASDAQ:SFLY) opened at 44.20 on Thursday. The company has a 50-day moving average of $50.42 and a 200 day moving average of $48.15. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 70.16 and a beta of 1.32. Shutterfly has a 12-month low of $35.22 and a 12-month high of $54.60.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.17. The business had revenue of $204 million for the quarter, compared to analysts’ expectations of $200.73 million. Shutterfly had a return on equity of 4.86% and a net margin of 2.01%. Shutterfly’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.63) earnings per share. Equities analysts anticipate that Shutterfly will post $0.55 earnings per share for the current year.
In other news, SVP Ishantha Lokuge sold 3,259 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $50.02, for a total transaction of $163,015.18. Following the sale, the senior vice president now owns 8,500 shares in the company, valued at $425,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas David Hughes sold 1,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $51.61, for a total value of $51,610.00. Following the sale, the director now owns 3,957 shares in the company, valued at approximately $204,220.77. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in SFLY. Fox Run Management L.L.C. acquired a new stake in shares of Shutterfly during the second quarter valued at approximately $345,000. Balter Liquid Alternatives LLC acquired a new stake in shares of Shutterfly during the first quarter valued at approximately $268,000. Boothbay Fund Management LLC boosted its stake in shares of Shutterfly by 6.0% in the first quarter. Boothbay Fund Management LLC now owns 46,560 shares of the company’s stock valued at $2,159,000 after buying an additional 2,641 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Shutterfly by 610.4% in the first quarter. Squarepoint Ops LLC now owns 34,100 shares of the company’s stock valued at $1,581,000 after buying an additional 29,300 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Shutterfly during the first quarter valued at approximately $124,000. Institutional investors own 97.74% of the company’s stock.
Shutterfly Company Profile
Shutterfly, Inc is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and also ships, as well as rents the BorrowLenses brand of products.
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