Analysts Expect Shutterstock Inc (SSTK) Will Announce Quarterly Sales of $170.73 Million

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Wall Street analysts expect Shutterstock Inc (NYSE:SSTK) to report sales of $170.73 million for the current quarter, Zacks reports. Five analysts have made estimates for Shutterstock’s earnings. The lowest sales estimate is $167.45 million and the highest is $173.90 million. Shutterstock posted sales of $156.58 million in the same quarter last year, which would indicate a positive year over year growth rate of 9%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $685.48 million for the current fiscal year, with estimates ranging from $682.30 million to $690.73 million. For the next year, analysts expect that the business will report sales of $750.86 million, with estimates ranging from $743.86 million to $760.27 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Shutterstock.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). The firm had revenue of $163.33 million for the quarter, compared to analysts’ expectations of $166.80 million. Shutterstock had a return on equity of 12.99% and a net margin of 4.68%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. SunTrust Banks restated a “hold” rating and set a $44.00 target price on shares of Shutterstock in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Shutterstock currently has an average rating of “Hold” and an average target price of $41.00.

SSTK traded down $0.94 on Friday, hitting $39.03. 194,700 shares of the company were exchanged, compared to its average volume of 217,458. Shutterstock has a fifty-two week low of $31.77 and a fifty-two week high of $55.76. The firm has a market capitalization of $1.41 billion, a P/E ratio of 37.17, a PEG ratio of 1.68 and a beta of 1.21.

In other news, Director Thomas R. Evans sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $40.29, for a total value of $100,725.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Martin Brodbeck sold 5,677 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total transaction of $263,866.96. Following the completion of the sale, the insider now owns 41,619 shares in the company, valued at $1,934,451.12. The disclosure for this sale can be found here. Corporate insiders own 46.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC grew its position in shares of Shutterstock by 2.4% in the first quarter. ArrowMark Colorado Holdings LLC now owns 3,279,705 shares of the business services provider’s stock valued at $152,933,000 after purchasing an additional 75,724 shares during the last quarter. BlackRock Inc. grew its position in shares of Shutterstock by 1.0% in the fourth quarter. BlackRock Inc. now owns 2,725,900 shares of the business services provider’s stock valued at $98,160,000 after purchasing an additional 27,149 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Shutterstock by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,828,893 shares of the business services provider’s stock valued at $99,821,000 after purchasing an additional 46,240 shares during the last quarter. Bernzott Capital Advisors grew its position in shares of Shutterstock by 0.8% in the first quarter. Bernzott Capital Advisors now owns 894,819 shares of the business services provider’s stock valued at $41,725,000 after purchasing an additional 6,765 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Shutterstock by 13.7% in the first quarter. Renaissance Technologies LLC now owns 853,600 shares of the business services provider’s stock valued at $39,803,000 after purchasing an additional 102,800 shares during the last quarter. Institutional investors and hedge funds own 56.65% of the company’s stock.

About Shutterstock

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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