Analysts expect Shutterstock, Inc. (NYSE:SSTK) to announce $133.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Shutterstock’s earnings, with the highest sales estimate coming in at $138.49 million and the lowest estimate coming in at $130.87 million. Shutterstock reported sales of $123.07 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.7%. The firm is expected to report its next quarterly earnings report on Friday, November 3rd.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $133.83 million for the current financial year, with estimates ranging from $535.80 million to $553.68 million. For the next financial year, analysts expect that the firm will report sales of $594.08 million per share, with estimates ranging from $580.88 million to $621.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Shutterstock.

Shutterstock (NYSE:SSTK) last announced its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.12. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The business had revenue of $134 million for the quarter, compared to analyst estimates of $137.83 million. During the same quarter last year, the company posted $0.36 EPS. Shutterstock’s quarterly revenue was up 7.7% on a year-over-year basis.

Several research firms have recently commented on SSTK. Deutsche Bank AG decreased their price target on shares of Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $50.00 price target on shares of Shutterstock in a report on Friday, April 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 price target on shares of Shutterstock in a report on Friday, June 23rd. TheStreet lowered shares of Shutterstock from a “b-” rating to a “c” rating in a report on Friday, July 7th. Finally, BidaskClub lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of SSTK. LS Investment Advisors LLC raised its position in Shutterstock by 250.0% in the first quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock worth $107,000 after buying an additional 1,845 shares during the last quarter. Victory Capital Management Inc. raised its position in Shutterstock by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock worth $117,000 after buying an additional 398 shares during the last quarter. State of Alaska Department of Revenue raised its position in Shutterstock by 76.7% in the second quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock worth $164,000 after buying an additional 1,618 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position 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 worth $182,000 after buying an additional 110 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position 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 worth $184,000 after buying an additional 216 shares during the last quarter. 60.56% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This news story was posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/08/zacks-analysts-anticipate-shutterstock-inc-nysesstk-will-announce-quarterly-sales-of-133-83-million.html.

Shares of Shutterstock (NYSE:SSTK) opened at 34.29 on Tuesday. Shutterstock has a 52 week low of $34.16 and a 52 week high of $65.16. The firm has a market cap of $1.19 billion, a P/E ratio of 42.23 and a beta of 1.40. The stock’s 50 day moving average is $44.00 and its 200 day moving average is $45.40.

About Shutterstock

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.

Get a free copy of the Zacks research report on Shutterstock (SSTK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.