JMP Securities Reiterates Market Perform Rating for Shutterstock (NYSE:SSTK)

Shutterstock (NYSE:SSTK)‘s stock had its “market perform” rating restated by research analysts at JMP Securities in a report issued on Monday,Benzinga reports.

Several other equities research analysts have also commented on the stock. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. StockNews.com assumed coverage on Shutterstock in a report on Tuesday, April 8th. They issued a “hold” rating for the company. Finally, Needham & Company LLC dropped their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Trading Up 0.4 %

Shares of SSTK opened at $17.59 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The company has a market cap of $620.12 million, a P/E ratio of 17.25 and a beta of 1.10. Shutterstock has a twelve month low of $14.35 and a twelve month high of $46.10. The company’s fifty day simple moving average is $17.74 and its 200-day simple moving average is $26.00.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.23). The company had revenue of $242.62 million during the quarter, compared to analysts’ expectations of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. As a group, analysts expect that Shutterstock will post 3.12 EPS for the current year.

Hedge Funds Weigh In On Shutterstock

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of Shutterstock by 1,908.6% in the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,336 shares in the last quarter. CWM LLC boosted its position in shares of Shutterstock by 93.8% during the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 876 shares during the last quarter. Amundi boosted its holdings in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 488 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,565 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Shutterstock during the 4th quarter worth $108,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

About Shutterstock

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.