Shutterstock, Inc. (SSTK) Lifted to “Hold” at Zacks Investment Research

Shutterstock, Inc. (NYSE:SSTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, October 4th.

According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “

Several other equities analysts have also issued reports on SSTK. Jefferies Group LLC reissued a “hold” rating and set a $50.00 target price on shares of Shutterstock in a research note on Friday, June 23rd. TheStreet lowered Shutterstock from a “b-” rating to a “c” rating in a research note on Friday, July 7th. BidaskClub lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG reduced their price target on Shutterstock from $41.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Finally, SunTrust Banks, Inc. started coverage on Shutterstock in a research report on Tuesday, August 15th. They issued a “hold” rating and a $36.00 price target on the stock. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.40.

Shares of Shutterstock (SSTK) opened at 34.01 on Wednesday. The company has a 50 day moving average price of $33.52 and a 200 day moving average price of $40.09. Shutterstock has a 12-month low of $29.85 and a 12-month high of $64.60. The company has a market capitalization of $1.18 billion, a P/E ratio of 41.88 and a beta of 1.44.

Shutterstock (NYSE:SSTK) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.12). Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The firm had revenue of $134.00 million for the quarter, compared to analyst estimates of $137.83 million. During the same period in the previous year, the company posted $0.36 EPS. Shutterstock’s revenue was up 7.7% on a year-over-year basis. Equities analysts anticipate that Shutterstock will post $1.16 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Shutterstock by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock valued at $198,000 after acquiring an additional 80 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Shutterstock by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 13,880 shares of the business services provider’s stock valued at $612,000 after acquiring an additional 137 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Shutterstock by 1.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,600 shares of the business services provider’s stock valued at $438,000 after acquiring an additional 190 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of Shutterstock by 5.1% in the 1st quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 216 shares during the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Shutterstock by 0.9% in the 2nd quarter. Teachers Advisors LLC now owns 33,365 shares of the business services provider’s stock valued at $1,471,000 after acquiring an additional 311 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of 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, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.

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