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

Analysts at StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other brokerages have also issued reports on SSTK. Morgan Stanley decreased their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st. Needham & Company LLC reduced their price target on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Truist Financial dropped their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.33.

Shutterstock Stock Down 1.2 %

Shares of NYSE:SSTK opened at $30.89 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.08 billion, a P/E ratio of 30.28 and a beta of 1.08. Shutterstock has a 52-week low of $27.30 and a 52-week high of $54.40. The stock’s fifty day simple moving average is $31.15 and its 200-day simple moving average is $33.79.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. During the same quarter in the previous year, the company posted $0.99 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that Shutterstock will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Shutterstock

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Epoch Investment Partners Inc. grew its position in Shutterstock by 22.8% during the second quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock valued at $42,010,000 after acquiring an additional 201,391 shares during the period. State Street Corp lifted its stake in shares of Shutterstock by 1.4% in the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after purchasing an additional 13,039 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock worth $33,648,000 after purchasing an additional 34,243 shares during the period. Geode Capital Management LLC grew its holdings in shares of Shutterstock by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after purchasing an additional 25,050 shares during the period. Finally, Rice Hall James & Associates LLC increased its position in Shutterstock by 40.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after purchasing an additional 153,154 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.