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

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

Other research analysts also recently issued research reports about the stock. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Needham & Company LLC dropped their price objective on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $43.67.

Shutterstock Price Performance

SSTK stock traded down $0.48 during trading on Friday, reaching $17.80. The company's stock had a trading volume of 247,207 shares, compared to its average volume of 510,087. Shutterstock has a 1 year low of $14.35 and a 1 year high of $46.10. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $627.38 million, a P/E ratio of 16.33 and a beta of 1.15. The company's fifty day moving average is $17.51 and its 200-day moving average is $23.29.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). Shutterstock had a return on equity of 17.70% and a net margin of 4.00%. The business had revenue of $242.62 million during the quarter, compared to analysts' expectations of $249.44 million. During the same quarter in the previous year, the company posted $1.13 EPS. The company's quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts expect that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSTK. Palouse Capital Management Inc. lifted its stake in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after purchasing an additional 525 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Shutterstock by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 149,039 shares of the business services provider's stock worth $4,523,000 after purchasing an additional 5,204 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in Shutterstock by 3.4% in 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 purchasing an additional 18,133 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its stake in Shutterstock by 50.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the business services provider's stock worth $1,912,000 after purchasing an additional 21,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Shutterstock by 6.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 24,196 shares of the business services provider's stock worth $734,000 after purchasing an additional 1,386 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

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.