Getty Images (NYSE:GETY) Price Target Lowered to $7.00 at Wedbush

Key Points

• Wedbush has reduced Getty Images' price target from $7.70 to $7.00, while still maintaining an "outperform" rating, suggesting a potential upside of 315.18% from the current price.
• Other analysts, including Benchmark and Wall Street Zen, have downgraded their ratings on Getty Images, with new price targets of $3.50 and $1.85, indicating a consensus rating of "Hold" and a target price averaging $4.03.
• Getty Images reported a quarterly earnings miss with an EPS of ($0.08), falling short of analysts' expectations, despite a year-over-year revenue increase of 2.5%.

Getty Images (NYSE:GETY - Free Report) had its target price cut by Wedbush from $7.70 to $7.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on GETY. Wall Street Zen cut Getty Images from a "buy" rating to a "sell" rating in a research report on Thursday, May 22nd. Benchmark cut Getty Images from a "buy" rating to a "hold" rating and set a $3.50 target price for the company. in a research report on Tuesday. Finally, Citigroup restated a "neutral" rating and set a $1.85 target price (down from $2.05) on shares of Getty Images in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.03.

Getty Images Stock Performance

Shares of GETY traded down $0.04 during mid-day trading on Tuesday, hitting $1.80. The stock had a trading volume of 541,135 shares, compared to its average volume of 924,784. The firm has a market cap of $744.58 million, a P/E ratio of -6.41 and a beta of 1.87. The business has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.93. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.70 and a quick ratio of 0.72. Getty Images has a 52 week low of $1.25 and a 52 week high of $4.49.

Getty Images (NYSE:GETY - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.11). The company had revenue of $234.88 million during the quarter, compared to analysts' expectations of $234.77 million. Getty Images had a negative net margin of 12.19% and a negative return on equity of 14.39%. Getty Images's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. On average, equities research analysts expect that Getty Images will post 0.08 EPS for the current year.

Insider Transactions at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 33,262 shares of Getty Images stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1.77, for a total transaction of $58,873.74. Following the completion of the sale, the chief executive officer owned 1,279,686 shares of the company's stock, valued at $2,265,044.22. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 80,010 shares of company stock worth $141,618 over the last three months. Insiders own 11.20% of the company's stock.

Institutional Investors Weigh In On Getty Images

Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Getty Images in the 2nd quarter valued at about $534,000. The Manufacturers Life Insurance Company lifted its stake in shares of Getty Images by 16.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,458 shares of the company's stock valued at $82,000 after acquiring an additional 6,856 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Getty Images in the 2nd quarter valued at about $141,000. Cerity Partners LLC bought a new stake in shares of Getty Images in the 2nd quarter valued at about $32,000. Finally, Invesco Ltd. lifted its stake in shares of Getty Images by 32.3% in the 2nd quarter. Invesco Ltd. now owns 152,114 shares of the company's stock valued at $253,000 after acquiring an additional 37,161 shares during the last quarter. Institutional investors own 45.75% of the company's stock.

About Getty Images

Getty Images Holdings, Inc offers creative and editorial visual content solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its products include Getty Images that offers creative and editorial content including stills, music and video which focuses on corporate, agency, and media customers; iStock.com, an e-commerce offering where customers have access to creative stills and video; Unsplash.com, a platform offering free stock photo downloads and paid subscriptions targeted to the high-growth prosumer and semi-professional creator segments; and Unsplash+ that provides access to unique model released content with expanded legal protections.