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

Shares of 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.

Analyst Ratings Changes

Several research firms have commented on SSTK. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research report on Monday. Needham & Company LLC lowered their target price on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 7th. StockNews.com raised Shutterstock from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $45.33.

Shutterstock Trading Up 1.3 %

The stock's fifty day simple moving average is $17.66 and its 200-day simple moving average is $25.94. 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 firm has a market cap of $619.06 million, a PE ratio of 17.22 and a beta of 1.10.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its 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 firm had revenue of $242.62 million during 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 business's revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. On average, sell-side analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.52%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is currently 121.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Shutterstock in the 1st quarter valued at about $335,000. Banque Cantonale Vaudoise acquired a new position in Shutterstock in the first quarter valued at approximately $143,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Shutterstock by 26.1% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 112,800 shares of the business services provider's stock worth $2,101,000 after purchasing an additional 23,314 shares during the period. Segall Bryant & Hamill LLC increased its holdings in shares of Shutterstock by 19.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 56,344 shares of the business services provider's stock valued at $1,050,000 after purchasing an additional 9,027 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Shutterstock by 33.3% during the first quarter. Victory Capital Management Inc. now owns 55,137 shares of the business services provider's stock valued at $1,027,000 after buying an additional 13,767 shares during the period. 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.