Shutterstock Inc. (SSTK) Rating Lowered to Sell at Zacks Investment Research
Shutterstock Inc. (NYSE:SSTK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
A number of other equities analysts also recently commented on the stock. Jefferies Group restated a “hold” rating and issued a $62.00 target price (up from $60.00) on shares of Shutterstock in a research note on Friday, September 16th. Cantor Fitzgerald restated a “hold” rating on shares of Shutterstock in a research note on Friday, September 9th. Finally, Deutsche Bank AG upped their target price on shares of Shutterstock from $42.00 to $56.00 and gave the stock a “hold” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $55.00.
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Shares of Shutterstock (NYSE:SSTK) traded down 2.60% during trading on Tuesday, reaching $62.25. 107,834 shares of the company were exchanged. The firm has a market capitalization of $2.18 billion, a PE ratio of 93.05 and a beta of 1.67. Shutterstock has a 1-year low of $25.44 and a 1-year high of $65.16. The company’s 50-day moving average is $61.05 and its 200 day moving average is $49.64.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. The company had revenue of $124.40 million for the quarter, compared to analyst estimates of $124.29 million. Shutterstock had a net margin of 5.24% and a return on equity of 11.05%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. Equities research analysts expect that Shutterstock will post $1.45 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in SSTK. Mason Street Advisors LLC acquired a new position in Shutterstock during the second quarter worth about $171,000. Royal Bank of Canada increased its stake in shares of Shutterstock by 79.7% in the second quarter. Royal Bank of Canada now owns 2,929 shares of the company’s stock valued at $134,000 after buying an additional 1,299 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Shutterstock by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,989 shares of the company’s stock valued at $3,160,000 after buying an additional 1,320 shares during the period. Stifel Financial Corp increased its stake in shares of Shutterstock by 3.4% in the second quarter. Stifel Financial Corp now owns 27,995 shares of the company’s stock valued at $1,282,000 after buying an additional 909 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Shutterstock by 356.9% in the second quarter. Legal & General Group Plc now owns 16,642 shares of the company’s stock valued at $760,000 after buying an additional 13,000 shares during the period. Hedge funds and other institutional investors own 64.02% of the company’s stock.
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.
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