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

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a research report released on Saturday morning. The brokerage issued a hold rating on the business services provider’s stock.

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

Shutterstock Trading Down 1.2 %

Shares of SSTK opened at $30.89 on Friday. Shutterstock has a fifty-two week low of $27.30 and a fifty-two week high of $54.40. The company has a market capitalization of $1.08 billion, a PE ratio of 30.28 and a beta of 1.08. The stock has a fifty day moving average of $31.15 and a two-hundred day moving average of $33.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

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

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.88%. Shutterstock’s payout ratio is 117.65%.

Institutional Trading of Shutterstock

Several large investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new position in shares of Shutterstock during the third quarter worth about $31,000. Quarry LP lifted its position in Shutterstock by 313.0% during the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after acquiring an additional 842 shares in the last quarter. Covestor Ltd boosted its holdings in Shutterstock by 9.5% in the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after acquiring an additional 397 shares during the period. AXA S.A. grew its position in Shutterstock by 38.4% in the second quarter. AXA S.A. now owns 6,377 shares of the business services provider’s stock valued at $247,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Shutterstock during the third quarter valued at approximately $284,000. 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.