Shutterstock, Inc. (SSTK) Upgraded to Hold at Zacks Investment Research
Shutterstock, Inc. (NYSE:SSTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
SSTK has been the topic of a number of other reports. BidaskClub cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine cut shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC cut shares of Shutterstock from a “hold” rating to an “underperform” rating and dropped their target price for the company from $50.00 to $30.00 in a report on Thursday, August 24th. Deutsche Bank AG dropped their target price on shares of Shutterstock from $41.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. Finally, SunTrust Banks, Inc. initiated coverage on shares of Shutterstock in a report on Tuesday, August 15th. They issued a “hold” rating and a $36.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $38.40.
Shares of Shutterstock (NYSE SSTK) traded down 0.06% during mid-day trading on Wednesday, hitting $33.60. The company had a trading volume of 237,185 shares. The firm’s 50-day moving average price is $35.60 and its 200 day moving average price is $41.80. Shutterstock has a one year low of $29.85 and a one year high of $65.16. The company has a market capitalization of $1.16 billion, a P/E ratio of 41.38 and a beta of 1.45.
Shutterstock (NYSE:SSTK) last issued its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.12. The firm had revenue of $134 million during the quarter, compared to the consensus estimate of $137.83 million. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Analysts predict that Shutterstock will post $1.16 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. LS Investment Advisors LLC raised its holdings in Shutterstock by 250.0% in the 1st quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,845 shares during the period. Victory Capital Management Inc. raised its holdings in Shutterstock by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 398 shares during the period. State of Alaska Department of Revenue raised its holdings in Shutterstock by 76.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 1,618 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Shutterstock by 2.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 110 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in Shutterstock by 5.1% in the 1st quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 216 shares during the period. 62.97% of the stock is currently owned by hedge funds and other institutional investors.
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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