Shutterfly (SFLY) Earns “Buy” Rating from Aegis
Aegis reissued their buy rating on shares of Shutterfly (NASDAQ:SFLY) in a research note released on Wednesday morning. The firm currently has a $57.00 price objective on the technology company’s stock.
“We believe, based on our own tracking, that Shutterfly weathered this holiday season, a critical one for them given the model transformation and competition from Amazon and Google, in relatively good shape (baring some third-party delivering issues). Shutterfly’s Consumer revenue growth gets less bad in 4Q17 and in the first half of 2018, and should return to growth beginning in 2H18. In the current quarter, Shutterfly brand mobile app downloads are up 52% YoY and 44% QoQ, and DAUs are up 130% YoY and 100% QoQ. Mobile represented 29% of Shutterfly brand revenues in 3Q17 and is likely to cross the 50% threshold by the end of 2018. While mobile is a tailwind for Shutterfly given that Photobooks and Calendars are both fully launched, SFLY noted that customers acquired through the mobile app spend a bit less than desktop customers but cost less to acquire.”,” Aegis’ analyst wrote.
Several other analysts have also commented on SFLY. Zacks Investment Research lowered shares of Shutterfly from a hold rating to a sell rating in a research report on Tuesday, October 10th. Goldman Sachs Group reiterated a neutral rating and issued a $47.00 price target on shares of Shutterfly in a research report on Wednesday, October 11th. Finally, ValuEngine lowered shares of Shutterfly from a hold rating to a sell rating in a research report on Wednesday, September 6th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $53.60.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.01. The business had revenue of $195.44 million for the quarter, compared to analyst estimates of $191.65 million. Shutterfly had a net margin of 0.81% and a return on equity of 4.66%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.86) earnings per share. research analysts expect that Shutterfly will post 0.45 EPS for the current fiscal year.
In other Shutterfly news, CAO Lisa Blackwood-Kapral sold 719 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $40.78, for a total transaction of $29,320.82. Following the transaction, the chief accounting officer now owns 1,900 shares of the company’s stock, valued at $77,482. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Ishantha Lokuge sold 7,162 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $48.85, for a total transaction of $349,863.70. Following the transaction, the senior vice president now directly owns 7,162 shares in the company, valued at approximately $349,863.70. The disclosure for this sale can be found here. Insiders have sold 70,719 shares of company stock worth $3,046,475 in the last three months. Insiders own 0.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. California Public Employees Retirement System raised its stake in Shutterfly by 12.4% during the third quarter. California Public Employees Retirement System now owns 74,299 shares of the technology company’s stock worth $3,602,000 after purchasing an additional 8,199 shares during the period. Bamco Inc. NY purchased a new position in Shutterfly during the third quarter worth approximately $36,360,000. Point72 Asset Management L.P. raised its stake in Shutterfly by 80.2% during the third quarter. Point72 Asset Management L.P. now owns 38,083 shares of the technology company’s stock worth $1,846,000 after purchasing an additional 16,953 shares during the period. Jane Street Group LLC raised its stake in Shutterfly by 31.2% during the third quarter. Jane Street Group LLC now owns 8,816 shares of the technology company’s stock worth $427,000 after purchasing an additional 2,096 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Shutterfly by 30.4% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 54,000 shares of the technology company’s stock worth $2,617,000 after purchasing an additional 12,600 shares during the period.
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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