Zacks Investment Research upgraded shares of Shutterfly Inc. (NASDAQ:SFLY) from a hold rating to a strong-buy rating in a research report report published on Monday morning. Zacks Investment Research currently has $51.00 price target on the stock.
According to Zacks, “We expect Shutterfly’s acquisitions, improved offerings in the growing mobile e-Commerce segment, aggressive promotions and easy-to-use products to continue boosting revenues. Personalized print products continue to do well mainly due to affordable prices, vigorous advertising, and simplicity of usage. Estimates have been going up ahead of Shutterfly’s Q3 earnings release and the company has mixed record of earnings surprises in recent quarters. Meanwhile, the company’s expansion of its manufacturing facilities will support the production of high-quality innovative products and timely shipments even during the busy holiday season. Continual progress of Shutterfly 3.0 initiative also bode well. However, higher costs associated with strategic initiatives to streamline the business remain a headwind. Also, the company’s revenues are susceptible to travel industry and consumer spending trends, which raises concern.”
Several other brokerages also recently commented on SFLY. Jefferies Group restated a hold rating on shares of Shutterfly in a research note on Friday, August 5th. Cantor Fitzgerald reiterated a buy rating and set a $55.00 price target on shares of Shutterfly in a research report on Tuesday, August 9th. Robert W. Baird reiterated an outperform rating and set a $59.00 price target on shares of Shutterfly in a research report on Wednesday, September 14th. Needham & Company LLC reiterated a buy rating and set a $56.00 price target on shares of Shutterfly in a research report on Wednesday, September 14th. Finally, RBC Capital Markets set a $57.00 price target on shares of Shutterfly and gave the stock a buy rating in a research report on Wednesday, September 14th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Shutterfly presently has an average rating of Buy and a consensus price target of $52.58.
Shutterfly (NASDAQ:SFLY) opened at 46.33 on Monday. The firm has a market capitalization of $1.57 billion, a PE ratio of 73.54 and a beta of 1.17. The firm has a 50 day moving average of $48.58 and a 200 day moving average of $48.06. Shutterfly has a one year low of $35.91 and a one year high of $54.60.
Shutterfly (NASDAQ:SFLY) last issued its earnings results on Wednesday, July 27th. The company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.17. Shutterfly had a net margin of 2.01% and a return on equity of 4.86%. The company had revenue of $204 million for the quarter, compared to the consensus estimate of $200.73 million. During the same quarter in the previous year, the company earned ($0.63) EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts forecast that Shutterfly will post $0.55 EPS for the current year.
In other news, insider Lisa Blackwood-Kapral sold 770 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $50.16, for a total value of $38,623.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ishantha Lokuge sold 3,259 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $50.02, for a total value of $163,015.18. Following the completion of the sale, the senior vice president now directly owns 8,500 shares of the company’s stock, valued at $425,170. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in Shutterfly by 6.9% in the second quarter. Teacher Retirement System of Texas now owns 4,631 shares of the company’s stock worth $216,000 after buying an additional 300 shares during the last quarter. BlackRock Inc. boosted its stake in Shutterfly by 20.7% in the second quarter. BlackRock Inc. now owns 2,986 shares of the company’s stock worth $139,000 after buying an additional 513 shares during the last quarter. Ancora Advisors LLC boosted its stake in Shutterfly by 0.8% in the second quarter. Ancora Advisors LLC now owns 119,151 shares of the company’s stock worth $5,554,000 after buying an additional 1,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Shutterfly by 19.5% in the second quarter. Principal Financial Group Inc. now owns 7,077 shares of the company’s stock worth $330,000 after buying an additional 1,153 shares during the last quarter. Finally, Quantitative Investment Management LLC boosted its stake in Shutterfly by 33.3% in the second quarter. Quantitative Investment Management LLC now owns 6,000 shares of the company’s stock worth $279,000 after buying an additional 1,500 shares during the last quarter. 97.74% of the stock is owned by institutional investors.
Shutterfly, Inc is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and also ships, as well as rents the BorrowLenses brand of products.
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