Wall Street Zen Upgrades Shutterstock (NYSE:SSTK) to Hold

Shutterstock (NYSE:SSTK - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on SSTK. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. Needham & Company LLC reduced their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Finally, Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.67.

Shutterstock Stock Down 5.0%

Shares of Shutterstock stock traded down $0.93 during trading on Friday, hitting $17.55. 191,513 shares of the stock traded hands, compared to its average volume of 511,938. The company has a fifty day moving average price of $17.41 and a two-hundred day moving average price of $23.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock has a twelve month low of $14.35 and a twelve month high of $46.10. The stock has a market cap of $618.67 million, a P/E ratio of 17.21 and a beta of 1.15.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.23). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same quarter last year, the firm posted $1.13 earnings per share. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts predict that Shutterstock will post 3.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Palouse Capital Management Inc. raised its stake in Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after acquiring an additional 525 shares in the last quarter. Principal Financial Group Inc. raised its stake in Shutterstock by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 149,039 shares of the business services provider's stock worth $4,523,000 after acquiring an additional 5,204 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Shutterstock by 3.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider's stock worth $16,617,000 after acquiring an additional 18,133 shares in the last quarter. Hussman Strategic Advisors Inc. raised its stake in Shutterstock by 50.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the business services provider's stock worth $1,912,000 after acquiring an additional 21,000 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Shutterstock by 6.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,196 shares of the business services provider's stock worth $734,000 after acquiring an additional 1,386 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Company Profile

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.