Shutterstock (NYSE:SSTK) Upgraded to Buy at Wall Street Zen

Key Points

• Shutterstock's stock was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased analyst confidence.
• The company reported a 21.3% increase in quarterly revenue compared to the same period last year, totaling $266.99 million, despite missing EPS expectations.
• Currently, the consensus target price for Shutterstock stands at $43.67, with a mix of hold and buy ratings from various analysts.

Shutterstock (NYSE:SSTK - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" 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 reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Needham & Company LLC lowered their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.67.

Shutterstock Stock Performance

Shares of NYSE:SSTK opened at $18.69 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $18.88 and a 200-day moving average price of $20.71. The company has a market cap of $662.93 million, a price-to-earnings ratio of 10.33 and a beta of 0.99. Shutterstock has a 12 month low of $14.35 and a 12 month high of $40.49.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Shutterstock by 11.6% during the 4th quarter. American Century Companies Inc. now owns 48,086 shares of the business services provider's stock worth $1,459,000 after purchasing an additional 4,984 shares during the last quarter. Sei Investments Co. raised its holdings in Shutterstock by 6.2% in the fourth quarter. Sei Investments Co. now owns 58,977 shares of the business services provider's stock worth $1,791,000 after purchasing an additional 3,439 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Shutterstock during the fourth quarter valued at about $134,000. LPL Financial LLC boosted its holdings in shares of Shutterstock by 18.1% in the 4th quarter. LPL Financial LLC now owns 11,562 shares of the business services provider's stock valued at $351,000 after buying an additional 1,772 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Shutterstock in the 4th quarter valued at about $9,903,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

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