Shutterstock’s (SSTK) “Market Perform” Rating Reiterated at JMP Securities

Shutterstock (NYSE:SSTK)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a report released on Monday,Benzinga reports.

A number of other analysts have also recently weighed in on SSTK. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Shutterstock in a report on Tuesday, October 29th. Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com raised Shutterstock from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.67.

Shutterstock Stock Up 15.0 %

Shares of SSTK stock opened at $34.55 on Monday. Shutterstock has a 1 year low of $28.64 and a 1 year high of $54.40. 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 business’s fifty day moving average is $31.54 and its 200-day moving average is $34.19. The stock has a market cap of $1.20 billion, a PE ratio of 33.87 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $240.90 million. During the same period in the previous year, the company earned $0.99 earnings per share. Shutterstock’s revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that Shutterstock will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of Shutterstock

Hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC purchased a new stake in Shutterstock in the 3rd quarter worth about $31,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 952 shares during the period. Quarry LP lifted its position in shares of Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after purchasing an additional 842 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Shutterstock by 1,339.2% during the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,107 shares during the period. Finally, Palouse Capital Management Inc. grew its position in Shutterstock by 20.7% during the second quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 665 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

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.