Shutterstock (NYSE:SSTK) Issues Quarterly Earnings Results

Shutterstock (NYSE:SSTK) announced its earnings results on Thursday. The business services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.37, FiscalAI reports. The company had revenue of $173.90 million for the quarter, compared to analysts’ expectations of $195.00 million. Shutterstock had a positive return on equity of 13.61% and a negative net margin of 22.87%.

Shutterstock Stock Performance

Shares of NYSE:SSTK traded down $1.27 during trading on Thursday, hitting $3.09. 1,656,145 shares of the stock traded hands, compared to its average volume of 658,400. Shutterstock has a 52-week low of $2.96 and a 52-week high of $23.25. The company has a market cap of $114.14 million, a price-to-earnings ratio of -0.55 and a beta of 1.14. The company has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $11.61. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SSTK shares. Wall Street Zen cut Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, July 26th. Weiss Ratings lowered Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. Finally, Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.00.

About Shutterstock

Shutterstock, Inc is a global technology company that provides licensed visual, video and audio content for businesses, media organizations, marketing professionals and individual creators. Its platform offers stock photographs, illustrations, vectors, video footage, music and other creative assets, which customers can access through subscription plans, content licenses and enterprise solutions.

The company also provides creative workflow and content-production tools, including editing capabilities, generative artificial intelligence features and services that help organizations find, customize and manage digital media.