Getty Images (NYSE:GETY) Price Target Cut to $7.00 by Analysts 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 price objective trimmed by Wedbush from $7.70 to $7.00 in a report published on Tuesday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also commented on GETY. Benchmark lowered Getty Images from a "buy" rating to a "hold" rating and set a $3.50 price target for the company. in a research report on Tuesday. Wall Street Zen lowered Getty Images from a "buy" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Citigroup reissued a "neutral" rating and issued a $1.85 target price (down previously from $2.05) on shares of Getty Images in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.03.

Getty Images Trading Up 1.1%

GETY traded up $0.02 during midday trading on Tuesday, reaching $1.81. 817,712 shares of the company's stock traded hands, compared to its average volume of 907,957. The firm has a fifty day moving average of $1.77 and a two-hundred day moving average of $1.92. The stock has a market capitalization of $750.81 million, a price-to-earnings ratio of -6.46 and a beta of 1.87. 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 released its quarterly earnings results on Monday, August 11th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.11). The business had revenue of $234.88 million for the quarter, compared to the consensus estimate of $234.77 million. Getty Images had a negative net margin of 12.19% and a negative return on equity of 14.39%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. On average, equities analysts anticipate that Getty Images will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Craig Warren Peters sold 33,262 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1.77, for a total value of $58,873.74. Following the completion of the transaction, the chief executive officer owned 1,279,686 shares of the company's stock, valued at approximately $2,265,044.22. This represents a 2.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 80,010 shares of company stock valued at $141,618. 11.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in Getty Images during the 4th quarter valued at approximately $27,000. Aristeia Capital L.L.C. bought a new position in Getty Images during the 4th quarter valued at approximately $28,000. Ameriprise Financial Inc. bought a new position in Getty Images during the 4th quarter valued at approximately $28,000. HHM Wealth Advisors LLC bought a new position in Getty Images during the 1st quarter valued at approximately $29,000. Finally, Catalyst Funds Management Pty Ltd bought a new position in Getty Images during the 2nd quarter valued at approximately $30,000. 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.