Shutterstock (NYSE:SSTK) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a research note released on Saturday. The brokerage issued a hold rating on the business services provider’s stock.

A number of other brokerages have also issued reports on SSTK. Truist Financial dropped their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley dropped their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Needham & Company LLC dropped their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Trading Down 1.2 %

Shares of SSTK opened at $30.89 on Friday. Shutterstock has a 12 month low of $27.30 and a 12 month high of $54.40. The stock’s 50-day moving average is $31.10 and its two-hundred day moving average is $33.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $1.08 billion, a PE ratio of 30.28 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The company had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. Equities analysts forecast that Shutterstock will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Shutterstock

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its stake in shares of Shutterstock by 14.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider’s stock worth $919,000 after purchasing an additional 3,734 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Shutterstock by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock valued at $1,066,000 after buying an additional 532 shares in the last quarter. Range Financial Group LLC acquired a new position in Shutterstock during the 4th quarter valued at about $691,000. Franklin Resources Inc. raised its position in shares of Shutterstock by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider’s stock worth $545,000 after buying an additional 894 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Shutterstock by 238.6% during the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after buying an additional 35,632 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

About Shutterstock

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.