Shutterstock Inc. (SSTK) Downgraded by Citigroup Inc.
Citigroup Inc. lowered shares of Shutterstock Inc. (NYSE:SSTK) from an outperform rating to a market perform rating in a report released on Monday morning, The Fly reports.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Shutterstock from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research report on Friday, July 15th. Jefferies Group reissued a hold rating and issued a $62.00 target price (up previously from $60.00) on shares of Shutterstock in a report on Friday, September 16th. Cantor Fitzgerald reissued a hold rating on shares of Shutterstock in a report on Friday, September 9th. Deutsche Bank AG increased their target price on Shutterstock from $42.00 to $56.00 and gave the company a hold rating in a report on Tuesday, August 9th. Finally, RBC Capital Markets reissued a hold rating and issued a $60.00 target price on shares of Shutterstock in a report on Friday, November 4th. Eight research analysts have rated the stock with a hold rating, Shutterstock has an average rating of Hold and an average price target of $54.67.
Shutterstock (NYSE:SSTK) opened at 48.51 on Monday. The stock has a 50 day moving average price of $60.53 and a 200 day moving average price of $52.65. Shutterstock has a one year low of $25.44 and a one year high of $65.16. The firm has a market cap of $1.70 billion, a PE ratio of 58.52 and a beta of 1.72.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Friday, November 4th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Shutterstock had a return on equity of 12.78% and a net margin of 6.17%. The business had revenue of $123.10 million for the quarter, compared to analyst estimates of $127.58 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Equities research analysts expect that Shutterstock will post $1.57 EPS for the current year.
Several institutional investors have recently modified their holdings of SSTK. Societe Generale purchased a new position in shares of Shutterstock during the second quarter valued at about $100,000. Teacher Retirement System of Texas increased its stake in shares of Shutterstock by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,765 shares of the company’s stock valued at $127,000 after buying an additional 330 shares during the period. Royal Bank of Canada increased its stake in shares of 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 during the period. Creative Planning increased its stake in shares of Shutterstock by 840.4% in the third quarter. Creative Planning now owns 2,445 shares of the company’s stock valued at $156,000 after buying an additional 2,185 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in shares of Shutterstock during the second quarter valued at $171,000. 64.15% of the stock is currently owned by institutional investors.
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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