Shutterstock, Inc. (SSTK) Stock Rating Upgraded by Zacks Investment Research
Shutterstock, Inc. (NYSE:SSTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
A number of other research firms have also recently commented on SSTK. SunTrust Banks, Inc. assumed coverage on shares of Shutterstock in a research note on Tuesday, August 15th. They issued a “hold” rating and a $36.00 price target on the stock. BidaskClub lowered shares of Shutterstock from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Deutsche Bank AG lowered their price objective on shares of Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. ValuEngine cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC cut shares of Shutterstock from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $50.00 to $30.00 in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.40.
Shares of Shutterstock (SSTK) traded down 0.27% during midday trading on Wednesday, reaching $33.61. 222,826 shares of the company’s stock were exchanged. The stock has a market cap of $1.16 billion, a PE ratio of 41.39 and a beta of 1.44. Shutterstock has a 12 month low of $29.85 and a 12 month high of $64.60. The company’s 50 day moving average is $33.37 and its 200-day moving average is $40.49.
Shutterstock (NYSE:SSTK) last released its quarterly earnings data 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 net margin of 5.59% and a return on equity of 11.08%. The business had revenue of $134.00 million during the quarter, compared to analyst estimates of $137.83 million. During the same period last year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that Shutterstock will post $1.16 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. 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 buying an additional 398 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Shutterstock by 76.7% during the 2nd 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 period. Municipal Employees Retirement System of Michigan boosted its position in Shutterstock by 2.6% during the 1st 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 period. Mason Street Advisors LLC boosted its position in Shutterstock by 5.1% during the 1st 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 period. Finally, Allen Investment Management LLC acquired a new stake in Shutterstock during the 2nd quarter worth approximately $242,000. 62.92% of the stock is owned by institutional investors.
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.
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