Shutterstock (NYSE:SSTK - Free Report) had its price objective reduced by Needham & Company LLC from $30.00 to $25.00 in a research note released on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the business services provider's stock.
SSTK has been the topic of a number of other reports. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Wall Street Zen started coverage on Shutterstock in a report on Wednesday, May 21st. They set a "buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $43.67.
Check Out Our Latest Analysis on Shutterstock
Shutterstock Trading Up 0.4%
Shares of NYSE:SSTK traded up $0.07 during mid-day trading on Monday, reaching $18.06. 155,866 shares of the company were exchanged, compared to its average volume of 513,262. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $636.69 million, a price-to-earnings ratio of 17.71 and a beta of 1.10. The firm's 50-day simple moving average is $17.21 and its 200 day simple moving average is $24.14. Shutterstock has a 1 year low of $14.35 and a 1 year high of $46.10.
Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $242.62 million during the quarter, compared to analysts' expectations of $249.44 million. During the same quarter in the prior year, the firm posted $1.13 EPS. Shutterstock's quarterly revenue was up 13.2% compared to the same quarter last year. Equities research analysts forecast that Shutterstock will post 3.12 EPS for the current year.
Shutterstock Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio is presently 121.10%.
Hedge Funds Weigh In On Shutterstock
Large investors have recently bought and sold shares of the stock. Performa Ltd US LLC acquired a new position in Shutterstock during the 1st quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Shutterstock in the 1st quarter valued at about $28,000. CWM LLC grew its holdings in shares of Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock worth $34,000 after buying an additional 876 shares in the last quarter. Finally, Amundi raised its position in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after buying an additional 488 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.
Shutterstock Company Profile
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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.
Further Reading
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