Shutterstock Inc (SSTK) Receives Consensus Rating of “Hold” from Brokerages
Shares of Shutterstock Inc (NYSE:SSTK) have been given an average recommendation of “Hold” by the seven analysts that are covering the firm. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $49.75.
A number of research firms recently weighed in on SSTK. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a report on Monday, May 8th. Royal Bank of Canada reissued a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a report on Friday, April 21st. Finally, Cantor Fitzgerald cut their target price on shares of Shutterstock to $43.00 in a report on Tuesday, February 28th.
Shares of Shutterstock (NYSE:SSTK) traded up 1.92% during midday trading on Friday, hitting $44.65. 126,117 shares of the stock were exchanged. The firm has a market cap of $1.54 billion, a PE ratio of 47.96 and a beta of 1.56. The firm’s 50-day moving average is $43.11 and its 200 day moving average is $47.07. Shutterstock has a 52-week low of $38.93 and a 52-week high of $65.16.
Shutterstock (NYSE:SSTK) last posted its earnings results on Wednesday, May 3rd. The business services provider reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Shutterstock had a net margin of 6.17% and a return on equity of 12.78%. The firm had revenue of $130.20 million during the quarter, compared to analyst estimates of $129.62 million. During the same period last year, the firm posted $0.36 earnings per share. Shutterstock’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts forecast that Shutterstock will post $1.46 earnings per share for the current year.
In related news, CFO Steven Berns sold 9,559 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $41.74, for a total value of $398,992.66. Following the completion of the sale, the chief financial officer now directly owns 83,366 shares in the company, valued at $3,479,696.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 46.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Shutterstock by 14.9% in the first quarter. Goldman Sachs Group Inc. now owns 188,682 shares of the business services provider’s stock worth $7,802,000 after buying an additional 24,421 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of Shutterstock by 27.9% in the first quarter. Janus Capital Management LLC now owns 435,565 shares of the business services provider’s stock worth $18,011,000 after buying an additional 95,102 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Shutterstock by 63.9% in the first quarter. Macquarie Group Ltd. now owns 770,572 shares of the business services provider’s stock worth $31,863,000 after buying an additional 300,529 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Shutterstock during the first quarter worth about $1,546,000. Finally, Paloma Partners Management Co increased its stake in shares of Shutterstock by 167.1% in the first quarter. Paloma Partners Management Co now owns 53,792 shares of the business services provider’s stock worth $2,224,000 after buying an additional 33,651 shares in the last quarter. Institutional investors own 58.19% of the company’s stock.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of 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, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.
Receive News & Ratings for Shutterstock Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock Inc and related companies with MarketBeat.com's FREE daily email newsletter.