Shutterstock, Inc. (SSTK) Stock Rating Reaffirmed by Cantor Fitzgerald
Shutterstock, Inc. (NYSE:SSTK)‘s stock had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald in a report issued on Tuesday. They presently have a $40.00 price objective on the business services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 16.79% from the company’s current price.
The analysts wrote, “Better-than-expected 3Q; revenue & EBITDA 5.8%/7.9% above Street. Revenue increased 14% Y/Y ex FX to $141.1M, 5.8% above (StreetAccount) consensus of $133.3M, and EBITDA increased 1.0% Y/Y ex FX to $23.2M (16.4% margin), 7.9% above consensus’ $21.5M. Normalized EPS was $0.31 vs. the Street’s $0.27.””
Several other equities research analysts have also commented on the stock. BidaskClub lowered 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 research report on Friday, September 1st. Zacks Investment Research upgraded shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Jefferies Group LLC cut shares of Shutterstock from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $50.00 to $30.00 in a report on Thursday, August 24th. Finally, Deutsche Bank AG cut their price objective 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. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $37.80.
Shutterstock (NYSE:SSTK) traded up 12.803% on Tuesday, hitting $38.635. The stock had a trading volume of 2,000,294 shares. The stock has a 50-day moving average of $34.03 and a 200-day moving average of $39.48. Shutterstock has a one year low of $29.85 and a one year high of $59.44. The company has a market cap of $1.34 billion, a PE ratio of 47.580 and a beta of 1.44.
Shutterstock (NYSE:SSTK) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $133.24 million. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities analysts expect that Shutterstock will post $1.16 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of SSTK. BlackRock Inc. raised its holdings in Shutterstock by 140,371.5% during the 1st quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock valued at $94,562,000 after acquiring an additional 2,285,248 shares during the period. Bank of New York Mellon Corp grew its holdings in Shutterstock by 167.7% in the second quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock worth $36,323,000 after purchasing an additional 516,226 shares during the period. Janus Henderson Group PLC purchased a new stake in Shutterstock in the second quarter worth about $20,224,000. Copper Rock Capital Partners LLC purchased a new stake in Shutterstock in the second quarter worth about $20,434,000. Finally, Jackson Square Partners LLC grew its holdings in Shutterstock by 11.1% in the second quarter. Jackson Square Partners LLC now owns 2,493,419 shares of the business services provider’s stock worth $109,909,000 after purchasing an additional 250,067 shares during the period. 61.83% 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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