Jefferies Group Reaffirms “Hold” Rating for Shutterstock Inc. (SSTK)
Shutterstock Inc. (NYSE:SSTK)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group in a research report issued to clients and investors on Friday. They presently have a $62.00 target price on the stock, up from their previous target price of $60.00. Jefferies Group’s price objective suggests a potential upside of 1.89% from the company’s current price.
Several other brokerages also recently issued reports on SSTK. Cantor Fitzgerald reiterated a “hold” rating on shares of Shutterstock in a report on Friday, September 9th. Deutsche Bank AG upped their price target on shares of Shutterstock from $42.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, August 9th. Finally, Zacks Investment Research upgraded shares of Shutterstock from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Friday, July 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.00.
Shutterstock (NYSE:SSTK) traded up 1.59% on Friday, reaching $61.82. The company’s stock had a trading volume of 44,828 shares. The stock’s 50 day moving average price is $58.44 and its 200 day moving average price is $45.89. Shutterstock has a 12 month low of $25.44 and a 12 month high of $62.82. The company has a market cap of $2.16 billion, a P/E ratio of 92.41 and a beta of 1.70.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The company earned $124.40 million during the quarter, compared to the consensus estimate of $124.29 million. Shutterstock had a net margin of 5.24% and a return on equity of 11.05%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. Equities research analysts forecast that Shutterstock will post $1.45 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of SSTK. Legal & General Group Plc boosted its stake in shares of Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock worth $134,000 after buying an additional 122 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Shutterstock by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 18,118 shares of the company’s stock worth $830,000 after buying an additional 207 shares during the period. Teacher Retirement System of Texas boosted 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 worth $127,000 after buying an additional 330 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Shutterstock by 2.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,150 shares of the company’s stock worth $740,000 after buying an additional 438 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Shutterstock by 2.3% in the second quarter. California Public Employees Retirement System now owns 30,900 shares of the company’s stock worth $1,415,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 64.02% of the company’s stock.
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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