Brokerages Anticipate Shutterstock Inc (SSTK) Will Announce Quarterly Sales of $143.76 Million

Brokerages expect that Shutterstock Inc (NYSE:SSTK) will report $143.76 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Shutterstock’s earnings, with the highest sales estimate coming in at $148.20 million and the lowest estimate coming in at $139.49 million. Shutterstock posted sales of $130.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, February 22nd.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $143.76 million for the current year, with estimates ranging from $544.77 million to $553.50 million. For the next financial year, analysts forecast that the company will report sales of $609.29 million per share, with estimates ranging from $595.78 million to $624.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Shutterstock.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $133.24 million. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS.

SSTK has been the subject of several recent analyst reports. BidaskClub upgraded shares of Shutterstock from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 28th. Cantor Fitzgerald reiterated a “hold” rating and issued a $40.00 price target on shares of Shutterstock in a research report on Tuesday, October 31st. Jefferies Group upped their price target on shares of Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Saturday, November 4th. Finally, ValuEngine downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Shutterstock has a consensus rating of “Hold” and an average target price of $39.17.

Shares of Shutterstock (NYSE:SSTK) opened at $43.75 on Monday. The firm has a market cap of $1,517.03, a P/E ratio of 63.41 and a beta of 1.54. Shutterstock has a 12-month low of $29.85 and a 12-month high of $55.07.

In related news, insider Jeffrey Kane Weiser sold 4,449 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the sale, the insider now owns 30,500 shares in the company, valued at approximately $1,159,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 47.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Shutterstock by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock worth $73,821,000 after buying an additional 5,258 shares during the last quarter. Van Berkom & Associates Inc. raised its position in Shutterstock by 24.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,580,964 shares of the business services provider’s stock worth $52,630,000 after buying an additional 307,357 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Shutterstock during the 2nd quarter worth $20,224,000. Rice Hall James & Associates LLC raised its position in Shutterstock by 10.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 457,957 shares of the business services provider’s stock worth $19,706,000 after buying an additional 41,743 shares during the last quarter. Finally, State Street Corp raised its position in Shutterstock by 4.5% during the 2nd quarter. State Street Corp now owns 452,917 shares of the business services provider’s stock worth $19,963,000 after buying an additional 19,410 shares during the last quarter. Institutional investors own 60.01% of the company’s stock.

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About Shutterstock

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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