Shutterstock (NYSE:SSTK - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.180-4.320 for the period, compared to the consensus EPS estimate of 4.220. The company issued revenue guidance of $923.0 million-$936.0 million, compared to the consensus revenue estimate of $875.7 million.
Shutterstock Price Performance
Shares of SSTK stock traded down $2.51 during trading hours on Friday, hitting $39.24. The company had a trading volume of 614,846 shares, compared to its average volume of 497,834. Shutterstock has a fifty-two week low of $33.80 and a fifty-two week high of $58.42. The company's fifty day moving average is $45.47 and its 200 day moving average is $45.05. The stock has a market capitalization of $1.39 billion, a PE ratio of 12.95 and a beta of 1.13.
Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.33 by $0.13. The firm had revenue of $217.22 million during the quarter, compared to analysts' expectations of $224.04 million. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. Equities analysts forecast that Shutterstock will post 3.13 earnings per share for the current year.
Shutterstock Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, May 30th. Shutterstock's dividend payout ratio is currently 39.60%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on SSTK shares. Truist Financial lowered their price objective on Shutterstock from $85.00 to $70.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Morgan Stanley initiated coverage on Shutterstock in a research note on Thursday, February 22nd. They set an equal weight rating and a $55.00 price target for the company. StockNews.com cut shares of Shutterstock from a strong-buy rating to a hold rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC restated a buy rating and set a $60.00 target price on shares of Shutterstock in a research report on Thursday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $62.50.
Check Out Our Latest Report on Shutterstock
Insider Buying and Selling
In related news, insider John Caine sold 5,440 shares of Shutterstock stock in a transaction on Monday, February 5th. The stock was sold at an average price of $47.20, for a total value of $256,768.00. Following the transaction, the insider now owns 5,439 shares in the company, valued at $256,720.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 12,853 shares of company stock valued at $575,630. Insiders own 32.30% of the company's stock.
Shutterstock Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Shutterstock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shutterstock wasn't on the list.
While Shutterstock currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
