Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

Research analysts at StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a report released on Saturday. The brokerage set a “hold” rating on the business services provider’s stock.

SSTK has been the topic of a number of other reports. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Needham & Company LLC reduced their price objective 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. Finally, Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Stock Up 0.3 %

Shutterstock stock opened at $19.47 on Friday. Shutterstock has a fifty-two week low of $19.13 and a fifty-two week high of $49.37. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a 50 day moving average price of $27.13 and a 200 day moving average price of $30.48. The company has a market capitalization of $679.39 million, a PE ratio of 19.09 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. During the same quarter last year, the firm earned $0.72 EPS. The business’s revenue was up 15.2% on a year-over-year basis. Research analysts expect that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC lifted its position in Shutterstock by 397.5% in the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock valued at $1,386,000 after purchasing an additional 31,315 shares during the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 25,050 shares in the last quarter. Barclays PLC raised its position in shares of Shutterstock by 238.6% during the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after buying an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Shutterstock in the 3rd quarter worth approximately $8,493,000. Finally, Weiss Asset Management LP acquired a new position in shares of Shutterstock in the 3rd quarter worth approximately $833,000. 82.79% of the stock is currently owned by institutional investors.

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.