Equities research analysts expect Shutterstock, Inc. (NYSE:SSTK) to report $132.87 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Shutterstock’s earnings. The lowest sales estimate is $130.87 million and the highest is $135.46 million. Shutterstock posted sales of $123.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The business is scheduled to issue its next earnings results on Friday, November 3rd.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $132.87 million for the current financial year, with estimates ranging from $535.80 million to $539.87 million. For the next year, analysts expect that the company will report sales of $587.81 million per share, with estimates ranging from $580.32 million to $603.41 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Shutterstock.

Shutterstock (NYSE:SSTK) last released its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The firm had revenue of $134.00 million for the quarter, compared to analyst estimates of $137.83 million. During the same period last year, the business earned $0.36 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.

Several research firms have weighed in on SSTK. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine cut shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC cut shares of Shutterstock from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $30.00 in a report on Thursday, August 24th. SunTrust Banks, Inc. initiated coverage on shares of Shutterstock in a report on Tuesday, August 15th. They set a “hold” rating and a $36.00 target price on the stock. Finally, BidaskClub cut shares of Shutterstock from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.40.

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A number of institutional investors have recently modified their holdings of SSTK. Great West Life Assurance Co. Can boosted its position in Shutterstock by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 26,434 shares of the business services provider’s stock valued at $1,093,000 after buying an additional 1,218 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Shutterstock by 10.0% during the first quarter. Bank of New York Mellon Corp now owns 307,829 shares of the business services provider’s stock worth $12,728,000 after purchasing an additional 28,013 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Shutterstock by 250.0% during the first quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,845 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Shutterstock by 58.9% during the first quarter. Ameriprise Financial Inc. now owns 172,263 shares of the business services provider’s stock worth $7,122,000 after purchasing an additional 63,878 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Shutterstock by 19.8% during the first quarter. Parametric Portfolio Associates LLC now owns 40,948 shares of the business services provider’s stock worth $1,693,000 after purchasing an additional 6,772 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.

Shutterstock (NYSE SSTK) traded up 0.36% during midday trading on Monday, reaching $33.73. The company had a trading volume of 138,726 shares. Shutterstock has a one year low of $29.85 and a one year high of $64.60. The firm has a market capitalization of $1.17 billion, a P/E ratio of 41.54 and a beta of 1.44. The stock’s 50 day moving average price is $33.36 and its 200-day moving average price is $40.44.

Shutterstock Company Profile

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of 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, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.

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