Brokerages Set Shutterstock, Inc. (NYSE:SSTK) Price Target at $25.00

Shares of Shutterstock, Inc. (NYSE:SSTK) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.00.

SSTK has been the subject of a number of analyst reports. Zacks Research cut Shutterstock from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. Wall Street Zen lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th.

Shutterstock Stock Performance

Shares of NYSE:SSTK opened at $19.01 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20. Shutterstock has a 12 month low of $14.35 and a 12 month high of $38.80. The company has a market capitalization of $675.19 million, a price-to-earnings ratio of 11.32 and a beta of 1.27. The firm’s 50-day moving average is $22.27 and its 200 day moving average is $20.61.

Shutterstock (NYSE:SSTK) last announced its earnings results on Wednesday, November 5th. The business services provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.48). The business had revenue of $260.09 million for the quarter, compared to analysts’ expectations of $255.60 million. Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 EPS. Research analysts predict that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Thursday, December 4th. Shutterstock’s dividend payout ratio (DPR) is presently 78.57%.

Hedge Funds Weigh In On Shutterstock

Institutional investors and hedge funds have recently modified their holdings of the stock. Performa Ltd US LLC purchased a new stake in shares of Shutterstock during the 1st quarter worth about $25,000. WealthCollab LLC raised its holdings in Shutterstock by 106.3% in the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after purchasing an additional 748 shares during the period. Signaturefd LLC boosted its position in Shutterstock by 10,268.8% during the second quarter. Signaturefd LLC now owns 1,659 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,643 shares in the last quarter. CWM LLC boosted its position in Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock worth $34,000 after purchasing an additional 876 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Shutterstock by 150.6% in the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,065 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.