Shutterstock (SSTK) Raised to “Hold” at Zacks Investment Research

Shutterstock (NYSE:SSTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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. “

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Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Deutsche Bank lifted their price objective on shares of Shutterstock from $36.00 to $43.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Finally, SunTrust Banks lifted their price objective on shares of Shutterstock to $47.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.67.

SSTK stock traded down $1.16 during trading on Friday, hitting $49.17. 308,601 shares of the stock traded hands, compared to its average volume of 377,879. The company has a market cap of $1,748.76, a price-to-earnings ratio of 102.44 and a beta of 1.33. Shutterstock has a 12-month low of $29.85 and a 12-month high of $52.78.

Shutterstock (NYSE:SSTK) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $151.80 million during the quarter, compared to the consensus estimate of $143.66 million. Shutterstock had a return on equity of 8.43% and a net margin of 3.00%. Shutterstock’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. analysts anticipate that Shutterstock will post 0.78 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in Shutterstock during the 3rd quarter valued at about $133,000. Municipal Employees Retirement System of Michigan increased its position in Shutterstock by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,130 shares of the business services provider’s stock valued at $237,000 after purchasing an additional 2,640 shares during the period. Atria Investments LLC purchased a new position in Shutterstock during the 4th quarter valued at about $243,000. We Are One Seven LLC purchased a new position in Shutterstock during the 4th quarter valued at about $243,000. Finally, First Republic Investment Management Inc. purchased a new position in Shutterstock during the 4th quarter valued at about $249,000. Institutional investors own 58.91% of the company’s stock.

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Shutterstock Company Profile

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 services comprising music tracks and sound effects that are used to complement digital imagery.

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Analyst Recommendations for Shutterstock (NYSE:SSTK)

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