Shutterstock, Inc. (SSTK) Lifted to “Hold” at Zacks Investment Research
Shutterstock, Inc. (NYSE:SSTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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 have also recently issued reports on the company. BidaskClub cut Shutterstock from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. ValuEngine downgraded Shutterstock from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. TheStreet lowered Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a research report on Friday, June 23rd. Finally, SunTrust Banks, Inc. assumed coverage on Shutterstock in a research note on Tuesday, August 15th. They set a “hold” rating and a $36.00 price target for the company. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $38.40.
Shares of Shutterstock (NYSE SSTK) traded down 0.323% on Wednesday, hitting $33.591. 220,770 shares of the stock traded hands. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 41.368 and a beta of 1.44. The company’s 50 day moving average is $33.37 and its 200 day moving average is $40.49. Shutterstock has a one year low of $29.85 and a one year high of $64.60.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The company had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $137.83 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Shutterstock will post $1.16 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of SSTK. Municipal Employees Retirement System of Michigan lifted its position in shares of Shutterstock by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock worth $198,000 after buying an additional 80 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of Shutterstock by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 13,880 shares of the business services provider’s stock worth $612,000 after acquiring an additional 137 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Shutterstock by 1.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 10,600 shares of the business services provider’s stock worth $438,000 after acquiring an additional 190 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Shutterstock by 5.1% during the 1st quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock worth $184,000 after acquiring an additional 216 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Shutterstock by 0.9% during the 2nd quarter. Teachers Advisors LLC now owns 33,365 shares of the business services provider’s stock worth $1,471,000 after acquiring an additional 311 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.
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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