Equities research analysts at SunTrust Banks, Inc. started coverage on shares of Shutterstock, Inc. (NYSE:SSTK) in a report issued on Tuesday, The Fly reports. The brokerage set a “hold” rating on the business services provider’s stock.

Several other analysts have also issued reports on SSTK. BidaskClub lowered shares of Shutterstock from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Deutsche Bank AG dropped their price objective on shares of Shutterstock from $41.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a research report on Friday, April 21st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a research report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Shutterstock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Shutterstock (NYSE:SSTK) traded up 0.42% on Tuesday, hitting $33.78. 147,482 shares of the stock were exchanged. The company has a 50 day moving average of $40.96 and a 200 day moving average of $44.17. The stock has a market capitalization of $1.17 billion, a P/E ratio of 41.60 and a beta of 1.40. Shutterstock has a one year low of $32.50 and a one year high of $65.16.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $134 million for the quarter, compared to the consensus estimate of $137.83 million. During the same period last year, the company posted $0.36 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Shutterstock will post $1.16 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in shares of 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. increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. Institutional investors and hedge funds own 61.99% 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.

The Fly

Analyst Recommendations for Shutterstock (NYSE:SSTK)

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