Shutterstock Inc. (SSTK) Stock Rating Lowered by Zacks Investment Research
Shutterstock Inc. (NYSE:SSTK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to 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. “
SSTK has been the subject of several other reports. Deutsche Bank AG increased their price objective on Shutterstock from $42.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, August 9th. Cantor Fitzgerald reissued a “buy” rating on shares of Shutterstock in a report on Wednesday, June 22nd. Finally, Jefferies Group reissued a “hold” rating on shares of Shutterstock in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.00.
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Shutterstock (NYSE:SSTK) traded down 2.36% during trading on Tuesday, hitting $62.40. The stock had a trading volume of 100,266 shares. The stock has a market capitalization of $2.18 billion, a P/E ratio of 93.27 and a beta of 1.67. Shutterstock has a 52 week low of $25.44 and a 52 week high of $65.16. The company has a 50-day moving average of $61.05 and a 200-day moving average of $49.64.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. The company earned $124.40 million during the quarter, compared to the consensus estimate of $124.29 million. Shutterstock had a return on equity of 11.05% and a net margin of 5.24%. Shutterstock’s revenue was up 19.2% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. On average, equities analysts expect that Shutterstock will post $1.45 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock worth $134,000 after buying an additional 122 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Shutterstock by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 18,118 shares of the company’s stock worth $830,000 after buying an additional 207 shares during the last quarter. Teacher Retirement System of Texas raised its position in Shutterstock by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,765 shares of the company’s stock worth $127,000 after buying an additional 330 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Shutterstock by 2.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,150 shares of the company’s stock worth $740,000 after buying an additional 438 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Shutterstock by 2.3% in the second quarter. California Public Employees Retirement System now owns 30,900 shares of the company’s stock worth $1,415,000 after buying an additional 700 shares during the last quarter. 64.02% of the stock is owned by hedge funds and other institutional investors.
Shutterstock Company Profile
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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