Shutterstock, Inc. (SSTK) Rating Increased to Sell at BidaskClub
BidaskClub upgraded shares of Shutterstock, Inc. (NYSE:SSTK) from a strong sell rating to a sell rating in a research report report published on Saturday morning.
Several other research firms also recently issued reports on SSTK. TheStreet downgraded Shutterstock from a b- rating to a c rating in a research note on Friday, July 7th. Deutsche Bank AG lowered their price objective on Shutterstock from $41.00 to $33.00 and set a hold rating for the company in a research note on Thursday, August 3rd. SunTrust Banks, Inc. assumed coverage on Shutterstock in a research note on Tuesday, August 15th. They issued a hold rating and a $36.00 price objective for the company. Zacks Investment Research raised Shutterstock from a sell rating to a hold rating in a research note on Wednesday, October 4th. Finally, ValuEngine downgraded Shutterstock from a hold rating to a sell rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $37.80.
Shutterstock (NYSE:SSTK) opened at 38.99 on Friday. The stock has a 50 day moving average of $34.16 and a 200 day moving average of $39.48. Shutterstock has a 52 week low of $29.85 and a 52 week high of $57.57. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 48.02 and a beta of 1.44.
Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The company had revenue of $141.10 million during the quarter, compared to the consensus estimate of $133.24 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. Equities research analysts predict that Shutterstock will post $1.16 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in Shutterstock by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 398 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Shutterstock by 76.7% in the second quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 1,618 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Shutterstock by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 110 shares during the last quarter. Allen Investment Management LLC bought a new stake in Shutterstock in the second quarter valued at approximately $242,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Shutterstock by 53.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,000 shares of the business services provider’s stock valued at $264,000 after acquiring an additional 2,081 shares during the last quarter. Institutional investors and hedge funds own 61.83% of the company’s stock.
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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