JMP Securities Reaffirms “Market Perform” Rating for Shutterstock (NYSE:SSTK)

JMP Securities reissued their market perform rating on shares of Shutterstock (NYSE:SSTK) in a report released on Monday morning,Benzinga reports.

A number of other analysts have also commented on the company. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th. StockNews.com raised Shutterstock from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Morgan Stanley cut their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Finally, Truist Financial lowered their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Shutterstock currently has an average rating of “Hold” and an average price target of $53.67.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $30.06 on Monday. The stock’s 50 day moving average is $31.54 and its 200-day moving average is $34.19. Shutterstock has a twelve month low of $28.64 and a twelve month high of $54.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 29.47 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The firm had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. Sell-side analysts forecast that Shutterstock will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.99%. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

Institutional Trading of Shutterstock

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in shares of Shutterstock during the 3rd quarter worth $31,000. Allspring Global Investments Holdings LLC boosted its position in Shutterstock by 31,733.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after purchasing an additional 952 shares during the period. Quarry LP increased its stake in shares of Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after purchasing an additional 842 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Shutterstock by 1,339.2% in the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 3,107 shares during the period. Finally, Palouse Capital Management Inc. lifted its stake in shares of Shutterstock by 20.7% during the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after buying an additional 665 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

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.