Shutterstock, Inc. (SSTK) Lifted to Sell at BidaskClub
Shutterstock, Inc. (NYSE:SSTK) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.
A number of other equities analysts have also issued reports on the stock. TheStreet lowered shares of Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. Jefferies Group LLC lowered shares of Shutterstock from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $50.00 to $30.00 in a research report on Thursday, August 24th. ValuEngine lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, 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 research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.40.
Shares of Shutterstock (NYSE SSTK) opened at 34.95 on Friday. The company’s 50-day moving average is $33.92 and its 200-day moving average is $39.68. Shutterstock has a 12-month low of $29.85 and a 12-month high of $62.66. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 43.04 and a beta of 1.44.
Shutterstock (NYSE:SSTK) last announced 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). Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The company had revenue of $134.00 million for the quarter, compared to the consensus estimate of $137.83 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Shutterstock will post $1.16 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the business. Jackson Square Partners LLC increased its holdings in Shutterstock by 11.1% in the 2nd quarter. Jackson Square Partners LLC now owns 2,493,419 shares of the business services provider’s stock valued at $109,909,000 after buying an additional 250,067 shares during the period. BlackRock Inc. increased its holdings in Shutterstock by 140,371.5% in the 1st quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock valued at $94,562,000 after buying an additional 2,285,248 shares during the period. Vanguard Group Inc. increased its holdings in Shutterstock by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock valued at $73,821,000 after buying an additional 5,258 shares during the period. Bank of New York Mellon Corp increased its holdings in Shutterstock by 167.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock valued at $36,323,000 after buying an additional 516,226 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Shutterstock in the 2nd quarter valued at $20,224,000. 61.78% of the stock is currently owned by hedge funds and other 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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