Shutterfly Inc. (SFLY) Upgraded to “Strong-Buy” at Zacks Investment Research
Shutterfly Inc. (NASDAQ:SFLY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $51.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.88% from the company’s current price.
According to Zacks, “We expect Shutterfly’s acquisitions, improved offerings in the growing mobile e-Commerce segment, aggressive promotions and easy-to-use products to continue boosting revenues. Personalized print products continue to do well mainly due to affordable prices, vigorous advertising, and simplicity of usage. Estimates have been going up ahead of Shutterfly’s Q3 earnings release and the company has mixed record of earnings surprises in recent quarters. Meanwhile, the company’s expansion of its manufacturing facilities will support the production of high-quality innovative products and timely shipments even during the busy holiday season. Continual progress of Shutterfly 3.0 initiative also bode well. However, higher costs associated with strategic initiatives to streamline the business remain a headwind. Also, the company’s revenues are susceptible to travel industry and consumer spending trends, which raises concern.”
Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $55.00 target price on shares of Shutterfly in a report on Tuesday, August 9th. Jefferies Group reissued a “hold” rating and issued a $55.00 target price on shares of Shutterfly in a report on Thursday, September 22nd. Axiom Securities lowered shares of Shutterfly from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Wednesday, July 20th. Goldman Sachs Group Inc. increased their target price on shares of Shutterfly from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $59.00 target price on shares of Shutterfly in a report on Sunday, September 4th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.58.
Shutterfly (NASDAQ:SFLY) traded up 1.723% on Monday, hitting $45.409. 138,670 shares of the company’s stock traded hands. The stock has a market cap of $1.54 billion, a P/E ratio of 72.078 and a beta of 1.17. Shutterfly has a 12 month low of $35.61 and a 12 month high of $54.60. The stock has a 50 day moving average price of $48.99 and a 200-day moving average price of $48.06.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.17. Shutterfly had a net margin of 2.01% and a return on equity of 4.86%. The firm earned $204 million during the quarter, compared to analyst estimates of $200.73 million. During the same quarter in the prior year, the firm earned ($0.63) EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts predict that Shutterfly will post $0.55 earnings per share for the current fiscal year.
In related news, Director Thomas David Hughes sold 1,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $51.61, for a total transaction of $51,610.00. Following the sale, the director now owns 3,957 shares in the company, valued at approximately $204,220.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa Blackwood-Kapral sold 770 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $50.16, for a total value of $38,623.20. The disclosure for this sale can be found here. Corporate insiders own 5.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Shutterfly by 4.8% in the second quarter. Vanguard Group Inc. now owns 2,333,253 shares of the company’s stock valued at $108,753,000 after buying an additional 107,457 shares during the last quarter. Alliancebernstein L.P. raised its stake in Shutterfly by 1.8% in the second quarter. Alliancebernstein L.P. now owns 1,454,918 shares of the company’s stock valued at $67,814,000 after buying an additional 25,438 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Shutterfly by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,293,054 shares of the company’s stock valued at $60,269,000 after buying an additional 57,753 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Shutterfly by 8.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 966,972 shares of the company’s stock valued at $44,838,000 after buying an additional 76,050 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Shutterfly by 286.6% in the first quarter. Renaissance Technologies LLC now owns 584,100 shares of the company’s stock valued at $27,085,000 after buying an additional 433,000 shares during the last quarter. Institutional investors own 97.74% of the company’s stock.
Shutterfly, Inc is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and also ships, as well as rents the BorrowLenses brand of products.
Receive News & Stock Ratings for Shutterfly Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterfly Inc. and related stocks with our FREE daily email newsletter.