Jefferies Group LLC Reaffirms Hold Rating for Shutterstock, Inc. (SSTK)
Shutterstock, Inc. (NYSE:SSTK)‘s stock had its “hold” rating reaffirmed by Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $50.00 price target on the business services provider’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 9.75% from the company’s previous close.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $50.00 price target on shares of Shutterstock in a research note on Friday, April 21st. Finally, Cantor Fitzgerald decreased their price target on shares of Shutterstock to $43.00 in a research note on Tuesday, February 28th. Seven investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $52.20.
Shares of Shutterstock (SSTK) traded up 2.27% during midday trading on Friday, reaching $45.56. The company had a trading volume of 216,602 shares. The firm’s 50 day moving average price is $45.05 and its 200-day moving average price is $46.35. Shutterstock has a 12 month low of $39.66 and a 12 month high of $65.16. The company has a market capitalization of $1.57 billion, a P/E ratio of 48.94 and a beta of 1.41.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $0.21 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. The firm had revenue of $130.20 million for the quarter, compared to analysts’ expectations of $129.62 million. Shutterstock had a net margin of 6.52% and a return on equity of 12.74%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts anticipate that Shutterstock will post $1.46 earnings per share for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan boosted its stake in Shutterstock by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock valued at $182,000 after buying an additional 110 shares during the period. Thrivent Financial For Lutherans boosted its stake in Shutterstock by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 10,600 shares of the business services provider’s stock valued at $438,000 after buying an additional 190 shares during the period. Mason Street Advisors LLC boosted its stake in Shutterstock by 5.1% in the first quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock valued at $184,000 after buying an additional 216 shares during the period. New York State Teachers Retirement System boosted its stake in Shutterstock by 2.8% in the fourth quarter. New York State Teachers Retirement System now owns 10,850 shares of the business services provider’s stock valued at $516,000 after buying an additional 300 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Shutterstock by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 32,069 shares of the business services provider’s stock valued at $1,524,000 after buying an additional 513 shares during the period. 61.07% of the stock is currently owned by institutional investors and hedge funds.
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.
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