Shutterstock PT Raised to $60.00 (SSTK)

Stock analysts at Cantor Fitzgerald lifted their target price on shares of Shutterstock (NYSE:SSTK) from $48.00 to $60.00 in a report issued on Thursday, reports. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 5.69% from the company’s current price.

Shares of Shutterstock (NYSE:SSTK) traded up 1.01% during mid-day trading on Thursday, hitting $56.77. Shutterstock has a one year low of $21.00 and a one year high of $46.75. The stock’s 50-day moving average is currently $41.06. The company has a market cap of $1.903 billion and a P/E ratio of 33.55.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.04. The company had revenue of $56.80 million for the quarter, compared to the consensus estimate of $54.69 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 39.9% on a year-over-year basis. Analysts expect that Shutterstock will post $0.80 EPS for the current fiscal year.

In other Shutterstock news, COO Thilo Semmelbauer sold 5,000 shares of the stock on the open market in a transaction that occured on Thursday, August 1st. The stock was sold at an average price of $54.51, for a total value of $272,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shutterstock, Inc (NYSE:SSTK) operates as a marketplace for commercial digital imagery.

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