Shutterstock (NYSE:SSTK) Posts Earnings Results, Beats Expectations By $0.37 EPS

Shutterstock (NYSE:SSTK) posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $195.00 million. Shutterstock had a negative net margin of 22.87% and a positive return on equity of 13.61%.

Shutterstock Stock Performance

NYSE SSTK traded down $1.27 during trading on Thursday, reaching $3.09. 1,656,145 shares of the company’s stock were exchanged, compared to its average volume of 658,400. The business has a 50 day moving average price of $4.65 and a 200-day moving average price of $11.61. The stock has a market capitalization of $114.14 million, a P/E ratio of -0.55 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.48 and a quick ratio of 0.48. Shutterstock has a fifty-two week low of $2.96 and a fifty-two week high of $23.25.

Analysts Set New Price Targets

SSTK has been the topic of a number of analyst reports. Weiss Ratings cut Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. Wall Street Zen cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Sunday, July 26th. Finally, Zacks Research upgraded shares of Shutterstock from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Shutterstock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Shutterstock Company Profile

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.