Shutterstock (NYSE:SSTK) Raised to “Hold” at Wall Street Zen

Shutterstock (NYSE:SSTK) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report issued on Saturday.

A number of other research analysts have also issued reports on the company. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Needham & Company LLC cut their price objective on Shutterstock from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, June 2nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Shutterstock has a consensus rating of “Hold” and an average price target of $43.67.

Shutterstock Trading Down 5.0%

NYSE SSTK opened at $17.55 on Friday. The company’s 50-day moving average price is $17.41 and its 200-day moving average price is $23.54. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a market cap of $618.67 million, a PE ratio of 17.21 and a beta of 1.15. Shutterstock has a 12 month low of $14.35 and a 12 month high of $46.10.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS 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 firm had revenue of $242.62 million for the quarter, compared to analysts’ expectations of $249.44 million. During the same period in the previous year, the company posted $1.13 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities research analysts forecast that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Investors Weigh In On Shutterstock

A number of large investors have recently modified their holdings of SSTK. Dimensional Fund Advisors LP grew its position in shares of Shutterstock by 22.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after acquiring an additional 189,015 shares in the last quarter. Invenomic Capital Management LP grew 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 buying an additional 283,532 shares in the last quarter. Royce & Associates LP boosted its position in Shutterstock by 18.1% during the fourth quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock valued at $25,240,000 after purchasing an additional 127,399 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Shutterstock by 21.7% in the first quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock worth $12,414,000 after purchasing an additional 118,828 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Shutterstock by 109.3% in the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after purchasing an additional 327,203 shares during the period. Institutional investors and hedge funds 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.