Shutterfly (SFLY) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Shutterfly (NASDAQ:SFLY) from a sell rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “Shares of Shutterfly have underperformed the industry in the past six months. Earnings estimate for current quarter and year have also witnessed downward revisions in the past 30 days. The company’s business is highly seasonal and thus it generally incurs losses in the first three quarters of the year. Also, Shutterfly’s net revenues and performance are affected by vacation and other travel trends as these boost digital camera sales. However, Shutterfly’s focus on improving operational efficiency through major restructuring also bodes well. Continual product innovations and focus on improving technology-related offerings are likely to be solid growth drivers. The Shutterfly 3.0 initiative, under which it aims to create a platform and device-agnostic memory management and personalized e-commerce solution, is an added positive.”

Several other analysts have also recently weighed in on the company. Goldman Sachs Group assumed coverage on Shutterfly in a report on Monday. They issued a sell rating and a $40.00 price target on the stock. SunTrust Banks lowered their price target on Shutterfly to $70.00 and set a buy rating on the stock in a report on Friday, February 1st. They noted that the move was a valuation call. BidaskClub raised Shutterfly from a sell rating to a hold rating in a report on Friday, January 25th. Robert W. Baird lowered their price target on Shutterfly from $70.00 to $55.00 and set a neutral rating on the stock in a report on Wednesday, December 12th. Finally, Aegis reaffirmed a buy rating and issued a $78.00 price target (down previously from $100.00) on shares of Shutterfly in a report on Friday, November 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $70.40.

Shares of NASDAQ SFLY opened at $47.01 on Monday. Shutterfly has a 52 week low of $35.08 and a 52 week high of $100.34. The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 2.48 and a beta of 1.49.

Shutterfly (NASDAQ:SFLY) last issued its earnings results on Tuesday, February 5th. The technology company reported $5.19 EPS for the quarter, missing the consensus estimate of $5.28 by ($0.09). Shutterfly had a return on equity of 18.78% and a net margin of 2.57%. The company had revenue of $949.97 million during the quarter, compared to the consensus estimate of $951.60 million. During the same quarter in the prior year, the business earned $3.11 EPS. The firm’s revenue for the quarter was up 60.0% compared to the same quarter last year. On average, equities analysts forecast that Shutterfly will post 0.81 earnings per share for the current fiscal year.

In related news, insider Lisa Blackwood-Kapral sold 750 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $40.09, for a total transaction of $30,067.50. Following the transaction, the insider now directly owns 750 shares of the company’s stock, valued at approximately $30,067.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Satish Menon sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $48.09, for a total value of $1,202,250.00. Following the transaction, the senior vice president now directly owns 12,448 shares in the company, valued at $598,624.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,012 shares of company stock worth $1,242,868. 1.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SFLY. Scge Management L.P. purchased a new position in shares of Shutterfly during the 3rd quarter valued at about $31,298,000. Alliancebernstein L.P. raised its holdings in shares of Shutterfly by 40.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,595,742 shares of the technology company’s stock valued at $105,143,000 after buying an additional 459,760 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Shutterfly by 237.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 409,700 shares of the technology company’s stock valued at $16,493,000 after buying an additional 288,460 shares in the last quarter. SQN Investors LP raised its holdings in shares of Shutterfly by 17.3% during the 3rd quarter. SQN Investors LP now owns 1,581,003 shares of the technology company’s stock valued at $104,172,000 after buying an additional 233,321 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Shutterfly by 4.9% during the 3rd quarter. BlackRock Inc. now owns 4,777,666 shares of the technology company’s stock valued at $314,799,000 after buying an additional 221,406 shares in the last quarter.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.

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