Zacks Investment Research upgraded shares of Shutterfly Inc. (NASDAQ:SFLY) from a hold rating to a strong-buy rating in a report published on Monday morning. They currently have $51.00 target price on the stock.
According to Zacks, “We expect Shutterfly’s acquisitions, improved offerings in the growing mobile e-Commerce segment, aggressive promotions and easy-to-use products to continue boosting revenues. Personalized print products continue to do well mainly due to affordable prices, vigorous advertising, and simplicity of usage. Estimates have been going up ahead of Shutterfly’s Q3 earnings release and the company has mixed record of earnings surprises in recent quarters. Meanwhile, the company’s expansion of its manufacturing facilities will support the production of high-quality innovative products and timely shipments even during the busy holiday season. Continual progress of Shutterfly 3.0 initiative also bode well. However, higher costs associated with strategic initiatives to streamline the business remain a headwind. Also, the company’s revenues are susceptible to travel industry and consumer spending trends, which raises concern.”
Other research analysts have also issued reports about the company. Cantor Fitzgerald reiterated a buy rating on shares of Shutterfly in a research report on Saturday, July 9th. Needham & Company LLC reiterated a buy rating on shares of Shutterfly in a research report on Monday, June 27th. Finally, RBC Capital Markets set a $57.00 price objective on Shutterfly and gave the stock a buy rating in a research report on Thursday, September 8th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $52.58.
Shutterfly (NASDAQ:SFLY) opened at 46.11 on Monday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 73.19 and a beta of 1.17. The stock has a 50 day moving average price of $48.46 and a 200 day moving average price of $48.04. Shutterfly has a 52-week low of $35.91 and a 52-week high of $54.60.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.17. The company earned $204 million during the quarter, compared to analyst estimates of $200.73 million. Shutterfly had a return on equity of 4.86% and a net margin of 2.01%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.63) earnings per share. On average, equities analysts expect that Shutterfly will post $0.55 earnings per share for the current year.
In other news, insider Lisa Blackwood-Kapral sold 770 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $50.16, for a total value of $38,623.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ishantha Lokuge sold 3,259 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $50.02, for a total value of $163,015.18. Following the completion of the sale, the senior vice president now owns 8,500 shares in the company, valued at $425,170. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SFLY. Pacad Investment Ltd. acquired a new stake in Shutterfly during the first quarter worth $427,000. Teachers Advisors Inc. boosted its stake in Shutterfly by 20.8% in the first quarter. Teachers Advisors Inc. now owns 91,999 shares of the company’s stock worth $4,266,000 after buying an additional 15,846 shares in the last quarter. Algert Global LLC acquired a new stake in Shutterfly during the first quarter worth $480,000. BlackRock Inc. boosted its stake in Shutterfly by 113.6% in the first quarter. BlackRock Inc. now owns 2,473 shares of the company’s stock worth $115,000 after buying an additional 1,315 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in Shutterfly by 82.8% in the first quarter. BlackRock Group LTD now owns 38,275 shares of the company’s stock worth $1,775,000 after buying an additional 17,332 shares in the last quarter. Institutional investors own 97.74% of the company’s stock.
Shutterfly, Inc is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and also ships, as well as rents the BorrowLenses brand of products.
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