Shutterstock, Inc. (SSTK) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Shutterstock, Inc. (NYSE:SSTK) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
A number of other analysts also recently commented on SSTK. SunTrust Banks, Inc. assumed coverage on Shutterstock in a report on Tuesday, August 15th. They set a hold rating and a $36.00 price objective for the company. BidaskClub downgraded Shutterstock from a sell rating to a strong sell rating in a report on Tuesday, August 8th. Deutsche Bank AG lowered their price target on Shutterstock from $41.00 to $33.00 and set a hold rating for the company in a report on Thursday, August 3rd. ValuEngine downgraded Shutterstock from a hold rating to a sell rating in a report on Friday, September 1st. Finally, Jefferies Group LLC downgraded Shutterstock from a hold rating to an underperform rating and lowered their price target for the company from $50.00 to $30.00 in a report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company currently has an average rating of Hold and an average price target of $38.40.
Shutterstock (NYSE SSTK) opened at 34.52 on Wednesday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 42.51 and a beta of 1.44. The stock’s 50 day moving average price is $33.38 and its 200 day moving average price is $40.34. Shutterstock has a 52-week low of $29.85 and a 52-week high of $64.60.
Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The firm had revenue of $134.00 million for the quarter, compared to analyst estimates of $137.83 million. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, analysts forecast that Shutterstock will post $1.16 EPS for the current year.
A number of large investors have recently bought and sold shares of SSTK. Victory Capital Management Inc. boosted its position in Shutterstock by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock valued at $117,000 after buying an additional 398 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Shutterstock by 76.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock valued at $164,000 after buying an additional 1,618 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Shutterstock by 2.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock valued at $182,000 after buying an additional 110 shares during the last quarter. Mason Street Advisors LLC boosted its position in Shutterstock by 5.1% in the 1st quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock valued at $184,000 after buying an additional 216 shares during the last quarter. Finally, Allen Investment Management LLC purchased a new position in Shutterstock in the 2nd quarter valued at about $242,000. 62.92% of the stock is owned by institutional investors.
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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