Shutterstock (NYSE:SSTK) Shares Gap Up - Still a Buy?

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $18.99, but opened at $19.81. Shutterstock shares last traded at $19.69, with a volume of 77,907 shares.

Analyst Upgrades and Downgrades

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

Shutterstock Stock Performance

The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $618.67 million, a PE ratio of 17.21 and a beta of 1.15. The firm's fifty day moving average is $17.41 and its 200-day moving average is $23.48.

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). The business had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. As a group, research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share 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 dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a yield of 7.52%. Shutterstock's dividend payout ratio (DPR) is presently 121.10%.

Hedge Funds Weigh In On Shutterstock

Institutional investors and hedge funds have recently made changes to their positions in the stock. Performa Ltd US LLC acquired a new position in shares of Shutterstock during the first quarter worth about $25,000. Versant Capital Management Inc grew its position in shares of Shutterstock by 1,908.6% during the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock worth $26,000 after buying an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Shutterstock during the first quarter worth about $28,000. CWM LLC grew its position 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 grew its position in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after buying an additional 488 shares in the last quarter. 82.79% of the stock is 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.