Shutterfly, Inc. (SFLY) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Shutterfly, Inc. (NASDAQ:SFLY) from a strong-buy rating to a hold rating in a research note published on Thursday morning.
According to Zacks, “Shutterfly’s second-quarter 2017 loss of $0.44 per share was narrower than the Zacks Consensus Estimate of a loss of $0.54 and the prior-year quarter loss of $0.48 per share. Net revenue increased 2% year over year, supported by strong performance of the flagship Shutterfly brand. However, revenues lagged the consensus mark by 0.6%. Shutterfly’s focus on improving operational efficiency through major restructuring bodes well for the long term. Product innovations and improving technology-related offerings are also expected to be solid growth drivers. However, Shutterfly is expected to incur huge restructuring and other costs, which could weigh on margins. Also, susceptibility to seasonality and consumer spending trends raises concern.”
A number of other equities analysts also recently issued reports on the company. SunTrust Banks, Inc. assumed coverage on Shutterfly in a research report on Tuesday, August 15th. They set a buy rating and a $56.00 price target on the stock. BidaskClub downgraded Shutterfly from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Jefferies Group LLC reiterated a hold rating and set a $53.00 price target on shares of Shutterfly in a research report on Friday, August 4th. TheStreet downgraded Shutterfly from a b- rating to a c+ rating in a research report on Tuesday, June 13th. Finally, ValuEngine upgraded Shutterfly from a sell rating to a hold rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Shutterfly has a consensus rating of Hold and an average price target of $54.10.
Shutterfly (NASDAQ SFLY) opened at 44.99 on Thursday. Shutterfly has a 52-week low of $41.91 and a 52-week high of $53.99. The stock has a market capitalization of $1.50 billion, a PE ratio of 274.33 and a beta of 0.85. The stock’s 50 day moving average price is $47.34 and its 200-day moving average price is $48.12.
Shutterfly (NASDAQ:SFLY) last issued its earnings results on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by $0.13. The company had revenue of $209.03 million during the quarter, compared to analysts’ expectations of $209.46 million. Shutterfly had a return on equity of 3.61% and a net margin of 0.50%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.48) EPS. On average, equities analysts expect that Shutterfly will post $0.47 EPS for the current fiscal year.
In other Shutterfly news, insider Lisa Blackwood-Kapral sold 1,250 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $46.56, for a total transaction of $58,200.00. Following the completion of the sale, the insider now owns 1,250 shares of the company’s stock, valued at $58,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher North sold 27,606 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $49.66, for a total value of $1,370,913.96. Following the sale, the chief executive officer now directly owns 40,000 shares of the company’s stock, valued at approximately $1,986,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,878 shares of company stock valued at $2,933,912. 5.70% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. acquired a new stake in Shutterfly during the first quarter valued at about $8,546,000. Pivot Point Capital Partners LLC purchased a new position in Shutterfly during the first quarter valued at approximately $3,998,000. Karp Capital Management Corp purchased a new position in Shutterfly during the first quarter valued at approximately $458,000. Koch Industries Inc. purchased a new position in Shutterfly during the first quarter valued at approximately $259,000. Finally, Capstone Asset Management Co. purchased a new position in Shutterfly during the first quarter valued at approximately $480,000.
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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