Shutterstock Inc (SSTK) Receives $41.00 Consensus Target Price from Brokerages

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Shutterstock Inc (NYSE:SSTK) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $41.00.

A number of analysts have recently commented on the company. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. ValuEngine raised Shutterstock from a “sell” rating to a “hold” rating in a research report on Monday, June 11th.

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA bought a new stake in shares of Shutterstock in the 1st quarter worth approximately $184,000. Point72 Asia Hong Kong Ltd raised its holdings in Shutterstock by 3,798.3% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,639 shares of the business services provider’s stock worth $223,000 after acquiring an additional 4,520 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Shutterstock by 211.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 4,667 shares of the business services provider’s stock worth $225,000 after acquiring an additional 3,167 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Shutterstock in the 1st quarter worth approximately $231,000. Finally, We Are One Seven LLC purchased a new position in Shutterstock in the 4th quarter worth approximately $243,000. 56.11% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock traded down $0.48, hitting $47.46, during trading hours on Monday, MarketBeat.com reports. 166,053 shares of the stock traded hands, compared to its average volume of 171,370. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 66.85 and a beta of 1.19. Shutterstock has a one year low of $29.85 and a one year high of $52.78.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Shutterstock had a return on equity of 7.59% and a net margin of 7.36%. The company had revenue of $153.00 million during the quarter, compared to the consensus estimate of $150.14 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. equities analysts forecast that Shutterstock will post 0.81 EPS for the current year.

About Shutterstock

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.

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