Shutterstock (NYSE:SSTK) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the business services provider’s stock.

Several other brokerages have also issued reports on SSTK. Needham & Company LLC lowered their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, May 5th. Finally, Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.33.

Shutterstock Stock Performance

Shutterstock stock opened at $18.22 on Wednesday. The company has a market cap of $642.33 million, a PE ratio of 17.86 and a beta of 1.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a 1 year low of $14.35 and a 1 year high of $46.10. The company’s 50-day moving average is $17.41 and its two-hundred day moving average is $25.17.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. During the same quarter last year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts anticipate that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Trading of Shutterstock

Several hedge funds and other institutional investors have recently bought and sold shares of SSTK. Alpine Associates Management Inc. purchased a new position in Shutterstock during the 1st quarter valued at about $11,177,000. Millennium Management LLC grew its position in shares of Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after buying an additional 327,203 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Shutterstock during the fourth quarter valued at approximately $9,903,000. Invenomic Capital Management LP raised its holdings in shares of Shutterstock by 47.1% during the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock valued at $16,488,000 after acquiring an additional 283,532 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Shutterstock by 63.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 538,670 shares of the business services provider’s stock worth $10,035,000 after acquiring an additional 209,840 shares during the period. Hedge funds and other 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.