Shutterfly, Inc. (NASDAQ:SFLY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Shutterfly’s second-quarter 2017 loss of $0.44 per share was narrower than the Zacks Consensus Estimate of a loss of $0.54 and the prior-year quarter loss of $0.48 per share. Net revenue increased 2% year over year, supported by strong performance of the flagship Shutterfly brand. However, revenues lagged the consensus mark by 0.6%. Shutterfly’s focus on improving operational efficiency through major restructuring bodes well for the long term. Product innovations and improving technology-related offerings are also expected to be solid growth drivers. However, Shutterfly is expected to incur huge restructuring and other costs, which could weigh on margins. Also, susceptibility to seasonality and consumer spending trends raises concern.”

Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of Shutterfly from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Robert W. Baird restated a “neutral” rating and issued a $50.00 target price (up from $47.00) on shares of Shutterfly in a research note on Saturday, April 29th. Royal Bank Of Canada upped their target price on shares of Shutterfly from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. ValuEngine upgraded shares of Shutterfly from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $53.00 target price (up from $46.00) on shares of Shutterfly in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.10.

Shutterfly (SFLY) traded down 1.29% during mid-day trading on Thursday, hitting $46.08. The company had a trading volume of 84,232 shares. Shutterfly has a 1-year low of $41.91 and a 1-year high of $53.99. The stock has a 50 day moving average price of $47.47 and a 200-day moving average price of $48.19. The stock has a market capitalization of $1.54 billion, a PE ratio of 280.98 and a beta of 0.85.

Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.55) by $0.13. The firm had revenue of $209.03 million for the quarter, compared to the consensus estimate of $209.46 million. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.48) earnings per share. On average, analysts forecast that Shutterfly will post $0.47 earnings per share for the current year.

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In other news, Director Betsy Rafael sold 1,060 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $47.76, for a total value of $50,625.60. Following the completion of the sale, the director now owns 5,046 shares of the company’s stock, valued at approximately $240,996.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 1,662 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $49.86, for a total transaction of $82,867.32. Following the completion of the sale, the director now directly owns 6,799 shares of the company’s stock, valued at approximately $338,998.14. The disclosure for this sale can be found here. Insiders sold a total of 60,290 shares of company stock valued at $2,958,580 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Several large investors have recently made changes to their positions in SFLY. Elkfork Partners LLC acquired a new stake in shares of Shutterfly during the first quarter valued at $116,000. Riverhead Capital Management LLC boosted its stake in shares of Shutterfly by 62.1% in the second quarter. Riverhead Capital Management LLC now owns 2,431 shares of the technology company’s stock valued at $116,000 after buying an additional 931 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Shutterfly during the second quarter valued at $119,000. LS Investment Advisors LLC boosted its stake in shares of Shutterfly by 132.9% in the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock valued at $137,000 after buying an additional 1,648 shares during the last quarter. Finally, Meadow Creek Investment Management LLC acquired a new stake in shares of Shutterfly during the first quarter valued at $141,000.

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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Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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