StockNews.com Downgrades Shutterstock (NYSE:SSTK) to Hold

Shutterstock (NYSE:SSTK) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other research analysts also recently commented on SSTK. Truist Financial reduced their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley lowered their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.67.

Shutterstock Stock Up 15.0 %

Shares of NYSE SSTK opened at $34.55 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock has a 1 year low of $28.64 and a 1 year high of $54.40. The stock’s 50-day simple moving average is $31.54 and its 200-day simple moving average is $34.19. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 33.87 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.25. The company had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. As a group, equities analysts anticipate that Shutterstock will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Shutterstock

Several hedge funds have recently made changes to their positions in SSTK. Rubric Capital Management LP bought a new stake in shares of Shutterstock during the second quarter valued at approximately $14,769,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Shutterstock during the 3rd quarter valued at $8,493,000. Epoch Investment Partners Inc. boosted its position in Shutterstock by 22.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock worth $42,010,000 after acquiring an additional 201,391 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of Shutterstock by 40.7% in the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after purchasing an additional 153,154 shares in the last quarter. Finally, Tieton Capital Management LLC acquired a new position in shares of Shutterstock during the second quarter valued at $5,320,000. Institutional investors 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.