Jefferies Group LLC Reiterates Hold Rating for Shutterfly, Inc. (NASDAQ:SFLY)
Jefferies Group LLC reaffirmed their hold rating on shares of Shutterfly, Inc. (NASDAQ:SFLY) in a report published on Friday morning. They currently have a $53.00 price objective on the technology company’s stock.
Other equities research analysts have also issued reports about the company. TheStreet lowered Shutterfly from a b- rating to a c+ rating in a research note on Tuesday, June 13th. Cantor Fitzgerald raised their price objective on Shutterfly from $50.00 to $57.00 and gave the company an overweight rating in a research note on Wednesday, April 26th. Zacks Investment Research raised Shutterfly from a sell rating to a hold rating in a research note on Wednesday, April 26th. BidaskClub lowered Shutterfly from a sell rating to a strong sell rating in a research note on Thursday, July 13th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $50.00 price objective (up from $47.00) on shares of Shutterfly in a research note on Saturday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $53.89.
Shutterfly (NASDAQ SFLY) opened at 47.45 on Friday. Shutterfly has a 52 week low of $41.91 and a 52 week high of $53.99. The stock has a market capitalization of $1.58 billion, a PE ratio of 289.33 and a beta of 0.85. The firm has a 50-day moving average price of $47.85 and a 200-day moving average price of $48.59.
Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by $0.13. The company had revenue of $209.03 million during the quarter, compared to the consensus estimate of $209.46 million. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. Shutterfly’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.48) earnings per share. Equities research analysts predict that Shutterfly will post $0.46 EPS for the current fiscal year.
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Shutterfly announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 18th that allows the company to repurchase $140.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other news, Director Betsy Rafael sold 1,060 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $47.76, for a total value of $50,625.60. Following the sale, the director now directly owns 5,046 shares in the company, valued at $240,996.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 1,662 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $49.86, for a total value of $82,867.32. Following the completion of the sale, the director now owns 6,799 shares in the company, valued at $338,998.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,290 shares of company stock worth $2,958,580. Company insiders own 5.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in shares of Shutterfly by 78,843.0% in the second quarter. Federated Investors Inc. PA now owns 62,365 shares of the technology company’s stock valued at $2,962,000 after buying an additional 62,286 shares during the last quarter. KBC Group NV acquired a new stake in shares of Shutterfly during the second quarter valued at $4,061,000. BNP Paribas Arbitrage SA increased its stake in shares of Shutterfly by 10.6% in the second quarter. BNP Paribas Arbitrage SA now owns 13,034 shares of the technology company’s stock valued at $619,000 after buying an additional 1,244 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Shutterfly by 8.7% in the second quarter. Legal & General Group Plc now owns 66,110 shares of the technology company’s stock valued at $3,140,000 after buying an additional 5,265 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of Shutterfly during the second quarter valued at $311,000.
Shutterfly Company Profile
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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