Shutterstock (NYSE:SSTK) Shares Up 7.7% - What's Next?

Key Points

• Shutterstock's stock surged 7.7% during mid-day trading, reaching a high of $26.13, with a trading volume exceeding the average at 440,226 shares.
• Analyst ratings vary, with Weiss Ratings maintaining a "hold" rating while Wall Street Zen upgraded it to a "buy," contributing to a consensus rating of "hold" with a target price of $40.50.
• In its most recent quarterly earnings, Shutterstock reported $1.19 EPS, falling short of expectations, but revenue grew by 21.3% year-over-year.

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $26.13 and last traded at $26.00. 440,226 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 415,546 shares. The stock had previously closed at $24.13.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SSTK. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Shutterstock in a research report on Wednesday, October 8th. Wall Street Zen raised Shutterstock from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $40.50.

Shutterstock Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a 50-day moving average price of $21.60 and a 200-day moving average price of $19.40. The company has a market capitalization of $920.27 million, a price-to-earnings ratio of 14.36 and a beta of 1.09.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The business had revenue of $266.99 million during the quarter, compared to the consensus estimate of $248.27 million. During the same quarter last year, the company posted $1.00 EPS. The firm's revenue was up 21.3% on a year-over-year basis. As a group, analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in Shutterstock by 6.8% during the third quarter. CWM LLC now owns 11,167 shares of the business services provider's stock worth $233,000 after acquiring an additional 714 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of Shutterstock during the second quarter worth approximately $210,000. Osaic Holdings Inc. lifted its holdings in Shutterstock by 150.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider's stock worth $34,000 after purchasing an additional 1,065 shares during the last quarter. Caxton Associates LLP bought a new stake in Shutterstock in the 2nd quarter valued at $1,022,000. Finally, Public Sector Pension Investment Board boosted its stake in Shutterstock by 8.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 82,913 shares of the business services provider's stock valued at $1,572,000 after purchasing an additional 6,725 shares during the period. Institutional investors and hedge funds own 82.79% of the company's stock.

About Shutterstock

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.

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