StockNews.com Initiates Coverage on Shutterstock (NYSE:SSTK)

Stock analysts at StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research report issued on Sunday. The firm set a “hold” rating on the business services provider’s stock.

Several other research analysts also recently weighed in on the stock. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Needham & Company LLC reduced their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Shutterstock presently has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Up 0.2 %

Shutterstock stock opened at $19.55 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a 12-month low of $18.63 and a 12-month high of $47.89. The firm’s fifty day moving average is $25.96 and its 200 day moving average is $29.90. The company has a market capitalization of $682.18 million, a PE ratio of 19.17 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Shutterstock will post 3.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Shutterstock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amundi boosted its position in Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after purchasing an additional 488 shares during the period. Covestor Ltd boosted its position in Shutterstock by 11.3% during the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider’s stock worth $155,000 after purchasing an additional 515 shares during the period. Palouse Capital Management Inc. boosted its position in Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares during the period. Harbor Capital Advisors Inc. boosted its position in Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock worth $1,066,000 after purchasing an additional 532 shares during the period. Finally, Snowden Capital Advisors LLC boosted its position in Shutterstock by 5.4% during the fourth quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider’s stock worth $325,000 after purchasing an additional 548 shares during the period. 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.