Shutterstock (SSTK) Announces Earnings Results, Misses Expectations By $0.04 EPS

Shutterstock (NYSE:SSTK) announced its quarterly earnings results on Thursday. The business services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04), Bloomberg Earnings reports. The company had revenue of $151.80 million during the quarter, compared to analyst estimates of $143.66 million. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS.

Shares of Shutterstock (NYSE SSTK) traded up $1.72 on Thursday, hitting $46.30. 331,806 shares of the company’s stock were exchanged, compared to its average volume of 232,171. The firm has a market cap of $1,563.84, a price-to-earnings ratio of 57.09 and a beta of 1.54. Shutterstock has a 52 week low of $29.85 and a 52 week high of $54.35.

Institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Advisors LLC lifted its holdings in shares of 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 acquiring an additional 311 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 958 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of 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 acquiring an additional 2,300 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of 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 acquiring an additional 2,640 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Shutterstock by 20.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,654 shares of the business services provider’s stock valued at $754,000 after acquiring an additional 3,786 shares in the last quarter. Institutional investors own 57.46% of the company’s stock.

A number of equities analysts have weighed in on the stock. Jefferies Group lifted their price target on shares of Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a report on Wednesday, November 1st. BidaskClub upgraded shares of Shutterstock from a “strong sell” rating to a “sell” rating in a report on Saturday, October 28th. Zacks Investment Research lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Friday, January 5th. ValuEngine lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $40.00 price target on shares of Shutterstock in a report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.17.

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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.

Earnings History for Shutterstock (NYSE:SSTK)

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