Shutterstock Inc (NYSE:SSTK) has received a consensus rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $38.60.
SSTK has been the topic of several research reports. BidaskClub raised Shutterstock from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 28th. Cantor Fitzgerald reissued a “hold” rating and issued a $40.00 target price on shares of Shutterstock in a research report on Tuesday, October 31st. ValuEngine downgraded Shutterstock from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded Shutterstock from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Jefferies Group raised their price objective on Shutterstock from $30.00 to $34.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 1st.
Shares of Shutterstock (SSTK) traded down $1.07 during trading hours on Friday, reaching $44.65. The company’s stock had a trading volume of 99,685 shares, compared to its average volume of 184,749. The stock has a market capitalization of $1,626.60, a PE ratio of 64.75 and a beta of 1.50. Shutterstock has a fifty-two week low of $29.85 and a fifty-two week high of $55.07.
Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $133.24 million. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. equities analysts expect that Shutterstock will post 0.69 earnings per share for the current year.
In other news, insider Jeffrey Kane Weiser sold 4,449 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total value of $169,062.00. Following the transaction, the insider now owns 30,500 shares of the company’s stock, valued at $1,159,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 47.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SSTK. Teachers Advisors LLC raised its stake in Shutterstock by 0.9% during the 2nd quarter. Teachers Advisors LLC now owns 33,365 shares of the business services provider’s stock valued at $1,471,000 after purchasing an additional 311 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Shutterstock by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 83,914 shares of the business services provider’s stock valued at $3,699,000 after purchasing an additional 878 shares during the period. Thrivent Financial For Lutherans raised its stake in Shutterstock by 8.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the business services provider’s stock valued at $507,000 after purchasing an additional 910 shares during the period. Voya Investment Management LLC raised its stake in Shutterstock by 11.9% during the 2nd quarter. Voya Investment Management LLC now owns 9,022 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 958 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Shutterstock by 43.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,571 shares of the business services provider’s stock valued at $334,000 after purchasing an additional 2,300 shares during the period. 60.01% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This article was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.dispatchtribunal.com/2018/01/31/analysts-set-shutterstock-inc-sstk-target-price-at-38-60.html.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of 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, which consists of music tracks and sound effects and which is often used to complement digital imagery.
Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.