Shutterstock Inc. (NYSE:SSTK) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued 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 equities analysts also recently weighed in on SSTK. Cantor Fitzgerald reissued a “buy” rating on shares of Shutterstock in a research report on Wednesday, June 22nd. Jefferies Group restated a “hold” rating on shares of Shutterstock in a report on Monday, July 11th. Finally, Deutsche Bank AG boosted their price objective on Shutterstock from $42.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $55.00.
Shares of Shutterstock (NYSE:SSTK) opened at 62.45 on Wednesday. The company’s 50-day moving average price is $60.86 and its 200-day moving average price is $49.02. Shutterstock has a 12-month low of $25.44 and a 12-month high of $65.16. The firm has a market capitalization of $2.19 billion, a PE ratio of 93.35 and a beta of 1.68.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $124.40 million for the quarter, compared to the consensus estimate of $124.29 million. Shutterstock had a return on equity of 11.05% and a net margin of 5.24%. The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. Analysts anticipate that Shutterstock will post $1.45 EPS for the current year.
Several large investors have recently modified their holdings of SSTK. Societe Generale bought a new stake in shares of Shutterstock during the second quarter valued at about $100,000. Teacher Retirement System of Texas boosted its stake in shares of Shutterstock by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,765 shares of the company’s stock valued at $127,000 after buying an additional 330 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of Shutterstock during the first quarter valued at about $103,000. Royal Bank of Canada boosted its stake in shares of Shutterstock by 79.7% in the second quarter. Royal Bank of Canada now owns 2,929 shares of the company’s stock valued at $134,000 after buying an additional 1,299 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock valued at $134,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 64.02% of the company’s stock.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.
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