Shutterfly, Inc. (SFLY) Upgraded by Zacks Investment Research to “Strong-Buy”
Shutterfly, Inc. (NASDAQ:SFLY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The firm currently has a $54.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.83% from the stock’s current price.
According to Zacks, “Shutterfly’s focus on improving operational efficiency through major restructuring bodes well in the long term. Continual product innovations and focus on improving technology-related offerings are also likely to be solid growth drivers. The Shutterfly 3.0 initiative under which it aims to create a platform and device-agnostic memory management and personalized e-commerce solution augur well. Further, expansion of manufacturing facilities will support the production of high-quality innovative products and timely shipments. Yet, Shutterfly is likely to incur huge restructuring costs in 2017 and revenue growth is expected to be very slow in the year. A rise in manufacturing, labor and training costs could weigh on margins. The company’s revenues are susceptible to travel industry and consumer spending trends, which raises concern. Also, its shares have underperformed the Zacks classified Internet Content industry year to date.”
Other analysts have also issued reports about the stock. TheStreet raised shares of Shutterfly from a “c” rating to a “b” rating in a research report on Monday, April 17th. Aegis reissued a “buy” rating and set a $57.00 price target on shares of Shutterfly in a research report on Wednesday, April 26th. Cantor Fitzgerald reissued a “buy” rating and set a $57.00 price target on shares of Shutterfly in a research report on Tuesday, May 16th. ValuEngine raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $53.00 price target (up from $46.00) on shares of Shutterfly in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Shutterfly currently has an average rating of “Hold” and an average target price of $53.20.
Shutterfly (NASDAQ SFLY) opened at 46.62 on Wednesday. The stock has a market capitalization of $1.57 billion, a PE ratio of 133.58 and a beta of 0.90. Shutterfly has a one year low of $41.91 and a one year high of $54.60. The firm has a 50-day moving average of $50.30 and a 200 day moving average of $49.27.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings results on Tuesday, April 25th. The technology company reported ($0.84) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.03) by $0.19. The business had revenue of $191.97 million during the quarter, compared to analyst estimates of $187.34 million. Shutterfly had a net margin of 1.06% and a return on equity of 3.29%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.85) earnings per share. On average, equities research analysts anticipate that Shutterfly will post $0.56 earnings per share for the current fiscal year.
In other Shutterfly news, Director Ann Mather sold 4,295 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $48.30, for a total transaction of $207,448.50. Following the completion of the transaction, the director now directly owns 9,658 shares of the company’s stock, valued at approximately $466,481.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Betsy Rafael sold 1,060 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $47.76, for a total transaction of $50,625.60. Following the transaction, the director now directly owns 5,046 shares of the company’s stock, valued at $240,996.96. The disclosure for this sale can be found here. Insiders have sold a total of 60,290 shares of company stock valued at $2,958,580 over the last three months. 5.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Elkfork Partners LLC acquired a new position in Shutterfly during the first quarter worth about $116,000. Meadow Creek Investment Management LLC acquired a new position in Shutterfly during the first quarter worth about $141,000. Ameritas Investment Partners Inc. acquired a new position in Shutterfly during the first quarter worth about $144,000. State of Alaska Department of Revenue acquired a new position in Shutterfly during the first quarter worth about $180,000. Finally, AQR Capital Management LLC acquired a new position in Shutterfly during the fourth quarter worth about $209,000. 98.67% of the stock is owned by institutional investors.
Shutterfly Company Profile
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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