Shutterstock (NYSE:SSTK) Hits New 52-Week Low – What’s Next?

Shutterstock, Inc. (NYSE:SSTK)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $30.18 and last traded at $30.47, with a volume of 7557 shares traded. The stock had previously closed at $30.34.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SSTK. Morgan Stanley upped their price target on shares of Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Shutterstock in a research report on Tuesday, August 6th. Finally, StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st.

Shutterstock Trading Down 0.0 %

The company has a market cap of $1.07 billion, a P/E ratio of 23.15 and a beta of 1.09. The firm has a 50-day moving average of $33.91 and a 200 day moving average of $37.87.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The firm had revenue of $220.05 million during the quarter, compared to analyst estimates of $213.44 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Shutterstock, Inc. will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Shutterstock

Large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of Shutterstock during the first quarter valued at about $576,000. Principal Financial Group Inc. boosted its position in shares of Shutterstock by 2.8% during the first quarter. Principal Financial Group Inc. now owns 150,479 shares of the business services provider’s stock valued at $6,893,000 after buying an additional 4,051 shares during the last quarter. Vest Financial LLC bought a new stake in Shutterstock during the first quarter worth $792,000. BNP Paribas Financial Markets raised its holdings in shares of Shutterstock by 14.2% in the first quarter. BNP Paribas Financial Markets now owns 97,344 shares of the business services provider’s stock valued at $4,459,000 after purchasing an additional 12,110 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Shutterstock by 137.4% in the first quarter. GSA Capital Partners LLP now owns 19,667 shares of the business services provider’s stock valued at $901,000 after acquiring an additional 11,381 shares in the last quarter. 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.