Shutterfly (NASDAQ:SFLY)‘s stock had its “buy” rating reissued by equities researchers at Aegis in a report issued on Wednesday. They presently have a $57.00 price objective on the technology company’s stock. Aegis’ price target indicates a potential upside of 19.22% from the company’s previous close.
The analysts wrote, “We believe, based on our own tracking, that Shutterfly weathered this holiday season, a critical one for them given the model transformation and competition from Amazon and Google, in relatively good shape (baring some third-party delivering issues). Shutterfly’s Consumer revenue growth gets less bad in 4Q17 and in the first half of 2018, and should return to growth beginning in 2H18. In the current quarter, Shutterfly brand mobile app downloads are up 52% YoY and 44% QoQ, and DAUs are up 130% YoY and 100% QoQ. Mobile represented 29% of Shutterfly brand revenues in 3Q17 and is likely to cross the 50% threshold by the end of 2018. While mobile is a tailwind for Shutterfly given that Photobooks and Calendars are both fully launched, SFLY noted that customers acquired through the mobile app spend a bit less than desktop customers but cost less to acquire.””
Several other research analysts also recently weighed in on SFLY. Zacks Investment Research downgraded shares of Shutterfly from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $47.00 target price on shares of Shutterfly in a report on Wednesday, October 11th. Finally, ValuEngine downgraded shares of Shutterfly from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Shutterfly currently has an average rating of “Hold” and an average target price of $53.60.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.01. Shutterfly had a net margin of 0.81% and a return on equity of 4.66%. The firm had revenue of $195.44 million during the quarter, compared to the consensus estimate of $191.65 million. During the same quarter in the previous year, the firm posted ($0.86) EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities analysts anticipate that Shutterfly will post 0.45 earnings per share for the current year.
In related news, SVP Ishantha Lokuge sold 2,838 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $48.27, for a total transaction of $136,990.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 719 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $40.78, for a total transaction of $29,320.82. Following the transaction, the chief accounting officer now owns 1,900 shares in the company, valued at $77,482. The disclosure for this sale can be found here. Insiders have sold a total of 70,719 shares of company stock worth $3,046,475 over the last quarter. 0.80% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Shutterfly by 4.0% during the second quarter. State Street Corp now owns 979,974 shares of the technology company’s stock valued at $46,554,000 after purchasing an additional 37,889 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Shutterfly by 33.7% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 578,988 shares of the technology company’s stock valued at $28,069,000 after purchasing an additional 146,055 shares in the last quarter. Bamco Inc. NY bought a new position in shares of Shutterfly during the third quarter valued at approximately $36,360,000. Bank of Nova Scotia bought a new position in shares of Shutterfly during the second quarter valued at approximately $1,188,000. Finally, Vanguard Group Inc. boosted its stake in shares of Shutterfly by 2.3% during the second quarter. Vanguard Group Inc. now owns 2,903,180 shares of the technology company’s stock valued at $137,902,000 after purchasing an additional 64,361 shares in the last quarter.
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Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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