Shutterstock (NYSE:SSTK) Coverage Initiated by Analysts at StockNews.com

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

A number of other research firms have also weighed in on SSTK. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Needham & Company LLC reduced their price target 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, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Stock Performance

Shares of NYSE:SSTK opened at $18.65 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a 12 month low of $17.17 and a 12 month high of $46.10. The company has a market capitalization of $650.91 million, a price-to-earnings ratio of 18.29 and a beta of 1.12. The firm’s 50-day moving average is $24.29 and its 200 day moving average is $29.13.

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

Institutional Investors Weigh In On Shutterstock

Several large investors have recently modified their holdings of SSTK. Amundi boosted its stake in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after buying an additional 1,565 shares in the last quarter. R Squared Ltd purchased a new stake in Shutterstock during the fourth quarter worth $108,000. Palouse Capital Management Inc. boosted its position in Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 525 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Shutterstock in the 4th quarter valued at $134,000. Institutional investors 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.