Goldman Sachs Group Downgrades Shutterfly (SFLY) to Sell

Shutterfly (NASDAQ:SFLY) was downgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Wednesday. They currently have a $46.00 price target on the technology company’s stock. Goldman Sachs Group’s price target would suggest a potential downside of 10.58% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, December 29th. BidaskClub raised Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Aegis reissued a “buy” rating and set a $56.00 price objective on shares of Shutterfly in a report on Tuesday, October 24th. Zacks Investment Research downgraded Shutterfly from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, SunTrust Banks raised their price objective on Shutterfly to $60.00 and gave the company a “buy” rating in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $53.90.

Shutterfly (NASDAQ SFLY) opened at $51.44 on Wednesday. Shutterfly has a 52 week low of $39.76 and a 52 week high of $53.88. The stock has a market capitalization of $1,727.65, a price-to-earnings ratio of 270.74 and a beta of 0.84.

Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported ($0.78) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.01. Shutterfly had a return on equity of 4.66% and a net margin of 0.81%. The company had revenue of $195.44 million for the quarter, compared to analyst estimates of $191.65 million. During the same quarter last year, the company posted ($0.86) EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities analysts expect that Shutterfly will post 0.45 earnings per share for the current year.

In other Shutterfly news, CAO Lisa Blackwood-Kapral sold 719 shares of Shutterfly stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $40.78, for a total transaction of $29,320.82. Following the transaction, the chief accounting officer now directly owns 1,900 shares of the company’s stock, valued at approximately $77,482. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael W. Pope sold 35,000 shares of Shutterfly stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $42.08, for a total value of $1,472,800.00. Following the transaction, the chief financial officer now directly owns 17,500 shares in the company, valued at $736,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,003 shares of company stock worth $2,573,821. 0.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pinebridge Investments L.P. lifted its holdings in Shutterfly by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,450 shares of the technology company’s stock worth $211,000 after buying an additional 60 shares during the period. Amalgamated Bank lifted its holdings in Shutterfly by 2.7% during the 2nd quarter. Amalgamated Bank now owns 4,713 shares of the technology company’s stock worth $224,000 after buying an additional 122 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Shutterfly by 2.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,941 shares of the technology company’s stock worth $520,000 after buying an additional 237 shares during the period. Teachers Advisors LLC lifted its holdings in Shutterfly by 0.7% during the 2nd quarter. Teachers Advisors LLC now owns 102,839 shares of the technology company’s stock worth $4,885,000 after buying an additional 734 shares during the period. Finally, Connors Investor Services Inc. lifted its holdings in Shutterfly by 2.0% during the 2nd quarter. Connors Investor Services Inc. now owns 38,806 shares of the technology company’s stock worth $1,843,000 after buying an additional 763 shares during the period.

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Shutterfly Company Profile

Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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