Shutterstock Inc. (SSTK) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
A number of other research analysts have also commented on SSTK. Cantor Fitzgerald reaffirmed a buy rating on shares of Shutterstock in a report on Wednesday, June 22nd. Jefferies Group reaffirmed a hold rating on shares of Shutterstock in a report on Monday, July 11th. Finally, Deutsche Bank AG upped their price objective on Shutterstock from $42.00 to $56.00 and gave the company a hold rating in a report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and a consensus target price of $55.00.
Shutterstock (NYSE:SSTK) traded down 0.65% on Wednesday, hitting $62.63. The company had a trading volume of 74,958 shares. The firm has a 50-day moving average price of $60.82 and a 200-day moving average price of $48.92. Shutterstock has a 12-month low of $25.44 and a 12-month high of $65.16. The firm has a market capitalization of $2.19 billion, a PE ratio of 93.62 and a beta of 1.68.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Shutterstock had a return on equity of 11.05% and a net margin of 5.24%. The business had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $124.29 million. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities research analysts anticipate that Shutterstock will post $1.45 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of SSTK. BlackRock Institutional Trust Company N.A. increased its position in shares of Shutterstock by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 472,103 shares of the company’s stock worth $17,340,000 after buying an additional 2,465 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Shutterstock during the first quarter worth about $103,000. Baker Avenue Asset Management LP increased its position in shares of Shutterstock by 27.2% in the first quarter. Baker Avenue Asset Management LP now owns 11,700 shares of the company’s stock worth $430,000 after buying an additional 2,500 shares during the period. Jackson Square Partners LLC increased its position in shares of Shutterstock by 15.1% in the first quarter. Jackson Square Partners LLC now owns 2,961,317 shares of the company’s stock worth $108,769,000 after buying an additional 388,574 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock worth $134,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 64.02% of the company’s stock.
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.
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