Shutterstock (NYSE:SSTK – Get Free Report) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other equities research analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Shutterstock in a research report on Tuesday, August 6th. Morgan Stanley increased their target price on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd.
Read Our Latest Analysis on Shutterstock
Shutterstock Stock Performance
Shutterstock (NYSE:SSTK – Get Free Report) last issued its earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.01). The company had revenue of $220.05 million for the quarter, compared to analysts’ expectations of $213.44 million. Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. As a group, sell-side analysts anticipate that Shutterstock will post 2.99 earnings per share for the current fiscal year.
Institutional Trading of Shutterstock
Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after acquiring an additional 952 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Shutterstock in the 2nd quarter worth approximately $41,000. Truvestments Capital LLC purchased a new position in Shutterstock during the first quarter valued at $42,000. Quarry LP grew its stake in shares of Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after acquiring an additional 842 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 838 shares in the last quarter. 82.79% of the stock is owned by institutional investors.
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.
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