StockNews.com Initiates Coverage on Shutterstock (NYSE:SSTK)

Equities research analysts at StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the stock. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC decreased their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Shutterstock presently has an average rating of “Hold” and a consensus price target of $45.33.

Shutterstock Price Performance

Shares of Shutterstock stock opened at $19.55 on Friday. Shutterstock has a twelve month low of $18.63 and a twelve month high of $47.89. 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 50-day simple moving average of $25.96 and a two-hundred day simple moving average of $29.90. The stock has a market capitalization of $682.18 million, a price-to-earnings ratio of 19.17 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last issued its 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). The firm had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Analysts forecast that Shutterstock will post 3.12 EPS for the current year.

Institutional Investors Weigh In On Shutterstock

Institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in Shutterstock during the 3rd quarter worth approximately $31,000. Amundi grew its holdings in Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after acquiring an additional 488 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,565 shares during the last quarter. R Squared Ltd bought a new stake in Shutterstock during the 4th quarter worth approximately $108,000. Finally, Palouse Capital Management Inc. boosted its stake in shares of Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 525 shares during 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.