Jefferies Group reaffirmed their hold rating on shares of Shutterstock Inc. (NYSE:SSTK) in a research note published on Friday morning. The brokerage currently has a $62.00 target price on the stock, up from their previous target price of $60.00.
SSTK has been the subject of a number of other research reports. Cantor Fitzgerald reissued a hold rating and issued a $60.00 price objective on shares of Shutterstock in a research report on Tuesday, August 23rd. Deutsche Bank AG raised their price objective on Shutterstock from $42.00 to $56.00 and gave the stock a hold rating in a research report on Tuesday, August 9th. Finally, Zacks Investment Research raised Shutterstock from a hold rating to a buy rating and set a $62.00 price objective for the company in a research report on Friday, July 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $55.00.
Shutterstock (NYSE:SSTK) opened at 63.45 on Friday. The stock has a 50 day moving average price of $59.50 and a 200-day moving average price of $46.93. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 94.84 and a beta of 1.70. Shutterstock has a 1-year low of $25.44 and a 1-year high of $63.53.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. The firm earned $124.40 million during the quarter, compared to analysts’ expectations of $124.29 million. Shutterstock had a return on equity of 11.05% and a net margin of 5.24%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Shutterstock will post $1.45 EPS for the current year.
A number of hedge funds have recently modified their holdings of SSTK. Mason Street Advisors LLC purchased a new stake in shares of Shutterstock during the second quarter worth approximately $171,000. Royal Bank of Canada raised its position in Shutterstock by 79.7% in the second quarter. Royal Bank of Canada now owns 2,929 shares of the company’s stock worth $134,000 after buying an additional 1,299 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Shutterstock by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,989 shares of the company’s stock worth $3,160,000 after buying an additional 1,320 shares during the last quarter. Stifel Financial Corp raised its position in Shutterstock by 3.4% in the second quarter. Stifel Financial Corp now owns 27,995 shares of the company’s stock worth $1,282,000 after buying an additional 909 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Shutterstock by 356.9% in the second quarter. Legal & General Group Plc now owns 16,642 shares of the company’s stock worth $760,000 after buying an additional 13,000 shares during the last quarter. 64.02% of the stock is owned by institutional investors.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.
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