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

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research report report published on Sunday. The firm issued a hold rating on the business services provider’s stock.

Several other equities analysts have also recently commented on the company. Needham & Company LLC cut their price target on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Truist Financial dropped their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley dropped their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Shutterstock has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $29.24 on Friday. The business has a 50 day moving average price of $31.01 and a 200 day moving average price of $33.44. Shutterstock has a twelve month low of $27.30 and a twelve month high of $54.40. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 28.67 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million during the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 EPS. Research analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Trading of Shutterstock

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in Shutterstock by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock worth $487,000 after purchasing an additional 309 shares during the period. Cascade Investment Advisors Inc. grew its holdings in Shutterstock by 1.2% during the third quarter. Cascade Investment Advisors Inc. now owns 27,430 shares of the business services provider’s stock worth $970,000 after purchasing an additional 315 shares during the period. Covestor Ltd grew its holdings in Shutterstock by 9.5% during the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after purchasing an additional 397 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock worth $1,066,000 after purchasing an additional 532 shares during the period. Finally, Quarry LP grew its holdings in Shutterstock by 313.0% during the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after purchasing an additional 842 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

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.