Shutterstock, Inc. (NYSE:SSTK - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $16.43, but opened at $17.37. Shutterstock shares last traded at $17.67, with a volume of 56,750 shares trading hands.
Analysts Set New Price Targets
A number of brokerages have weighed in on SSTK. StockNews.com initiated coverage on shares of Shutterstock in a report on Tuesday, April 8th. They issued a "hold" rating on the stock. Needham & Company LLC lowered their price target on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research report on Monday. 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, Shutterstock currently has an average rating of "Hold" and an average price target of $45.33.
Read Our Latest Analysis on Shutterstock
Shutterstock Price Performance
The company's 50-day simple moving average is $17.94 and its 200-day simple moving average is $26.15. 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 company has a market cap of $611.69 million, a price-to-earnings ratio of 17.19 and a beta of 1.13.
Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share 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 analyst estimates of $249.44 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 EPS. On average, equities research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.
Shutterstock Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a yield of 7.53%. Shutterstock's dividend payout ratio is currently 130.69%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Shutterstock by 167.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,565 shares during the last quarter. Barclays PLC boosted its position in Shutterstock by 238.6% during the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock worth $1,788,000 after acquiring an additional 35,632 shares during the period. Range Financial Group LLC bought a new position in shares of Shutterstock in the fourth quarter worth $691,000. Franklin Resources Inc. raised its stake in shares of Shutterstock by 50.6% during the fourth quarter. Franklin Resources Inc. now owns 23,209 shares of the business services provider's stock valued at $704,000 after purchasing an additional 7,796 shares in the last quarter. Finally, Sei Investments Co. grew its position in Shutterstock by 6.2% in the 4th quarter. Sei Investments Co. now owns 58,977 shares of the business services provider's stock valued at $1,791,000 after buying an additional 3,439 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.
About Shutterstock
(
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.
Further Reading
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