Shutterstock Inc. (SSTK) Downgraded by Zacks Investment Research to Sell
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 equities analysts have also issued reports on the stock. Cantor Fitzgerald lowered shares of Shutterstock from a buy rating to a hold rating and set a $60.00 price target for the company. in a research report on Thursday, August 4th. Jefferies Group reissued a hold rating and set a $60.00 price target on shares of Shutterstock in a research report on Tuesday, September 6th. Finally, Deutsche Bank AG raised their price objective on shares of Shutterstock from $42.00 to $56.00 and gave the stock a hold rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company has a consensus rating of Hold and an average price target of $55.00.
Shares of Shutterstock (NYSE:SSTK) opened at 61.36 on Tuesday. Shutterstock has a 52-week low of $25.44 and a 52-week high of $65.16. The stock has a 50 day moving average of $61.14 and a 200 day moving average of $49.72. The stock has a market capitalization of $2.15 billion, a PE ratio of 91.72 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Shutterstock had a net margin of 5.24% and a return on equity of 11.05%. The company earned $124.40 million during the quarter, compared to analyst estimates of $124.29 million. During the same period last year, the firm posted $0.31 EPS. Shutterstock’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts forecast that Shutterstock will post $1.45 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in SSTK. Mason Street Advisors LLC bought a new position in Shutterstock during the second quarter valued at approximately $171,000. Royal Bank of Canada raised its position in Shutterstock by 79.7% in the second quarter. Royal Bank of Canada now owns 2,929 shares of the company’s stock valued at $134,000 after buying an additional 1,299 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Shutterstock by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,989 shares of the company’s stock valued at $3,160,000 after buying an additional 1,320 shares in the last quarter. Stifel Financial Corp raised its position in Shutterstock by 3.4% in the second quarter. Stifel Financial Corp now owns 27,995 shares of the company’s stock valued at $1,282,000 after buying an additional 909 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Shutterstock by 356.9% in the second quarter. Legal & General Group Plc now owns 16,642 shares of the company’s stock valued at $760,000 after buying an additional 13,000 shares in the last quarter. Institutional investors own 64.02% of the company’s stock.
Shutterstock Company Profile
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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