$150.17 Million in Sales Expected for Shutterstock (SSTK) This Quarter

Wall Street brokerages expect Shutterstock (NYSE:SSTK) to announce $150.17 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Shutterstock’s earnings, with the lowest sales estimate coming in at $146.18 million and the highest estimate coming in at $152.60 million. Shutterstock reported sales of $130.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.3%. The business is expected to report its next earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $631.61 million for the current fiscal year, with estimates ranging from $629.01 million to $634.39 million. For the next fiscal year, analysts forecast that the company will post sales of $700.16 million per share, with estimates ranging from $691.25 million to $706.86 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Shutterstock.

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Shutterstock (NYSE:SSTK) last issued its earnings results on Thursday, February 22nd. The business services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $151.80 million during the quarter, compared to analyst estimates of $143.66 million. Shutterstock had a return on equity of 8.43% and a net margin of 3.00%. Shutterstock’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS.

SSTK has been the subject of several research reports. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. ValuEngine lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Deutsche Bank lifted their target price on Shutterstock from $36.00 to $43.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, SunTrust Banks lifted their target price on Shutterstock to $47.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Shutterstock currently has an average rating of “Hold” and a consensus price target of $42.67.

A number of large investors have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC boosted its position in Shutterstock by 8.0% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,939,453 shares of the business services provider’s stock valued at $126,485,000 after purchasing an additional 217,476 shares during the period. BlackRock Inc. boosted its position in Shutterstock by 6.2% during the 4th quarter. BlackRock Inc. now owns 2,373,497 shares of the business services provider’s stock valued at $102,131,000 after purchasing an additional 137,849 shares during the period. Clearbridge Investments LLC boosted its position in Shutterstock by 7.0% during the 4th quarter. Clearbridge Investments LLC now owns 572,968 shares of the business services provider’s stock valued at $24,655,000 after purchasing an additional 37,538 shares during the period. Schroder Investment Management Group boosted its position in Shutterstock by 98.6% during the 4th quarter. Schroder Investment Management Group now owns 556,747 shares of the business services provider’s stock valued at $23,956,000 after purchasing an additional 276,377 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in Shutterstock by 10.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 457,957 shares of the business services provider’s stock valued at $19,706,000 after purchasing an additional 41,743 shares during the period. Institutional investors and hedge funds own 58.91% of the company’s stock.

Shares of SSTK traded up $0.27 during mid-day trading on Friday, hitting $51.85. The stock had a trading volume of 114,587 shares, compared to its average volume of 280,127. The firm has a market cap of $1,783.50, a price-to-earnings ratio of 73.03 and a beta of 1.16. Shutterstock has a fifty-two week low of $29.85 and a fifty-two week high of $52.78.

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Shutterstock Company Profile

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 services comprising music tracks and sound effects that are used to complement digital imagery.

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