Shutterstock, Inc. (SSTK) Coverage Initiated by Analysts at SunTrust Banks, Inc.

SunTrust Banks, Inc. began coverage on shares of Shutterstock, Inc. (NYSE:SSTK) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued a hold rating and a $36.00 target price on the business services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Shutterstock from a hold rating to a sell rating in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Shutterstock from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Deutsche Bank AG decreased their price objective on shares of Shutterstock from $41.00 to $33.00 and set a hold rating for the company in a report on Thursday, August 3rd. TheStreet cut shares of Shutterstock from a b- rating to a c rating in a report on Friday, July 7th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $50.00 price objective on shares of Shutterstock in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $42.40.

Shutterstock (SSTK) opened at 33.27 on Tuesday. Shutterstock has a one year low of $32.50 and a one year high of $65.16. The firm has a market cap of $1.15 billion, a PE ratio of 40.97 and a beta of 1.40. The company has a 50-day moving average price of $40.08 and a 200-day moving average price of $43.88.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.12. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The company had revenue of $134 million during the quarter, compared to analyst estimates of $137.83 million. During the same period last year, the company posted $0.36 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Shutterstock will post $1.17 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Shutterstock, Inc. (SSTK) Coverage Initiated by Analysts at SunTrust Banks, Inc.” was first published by BNB Daily and is owned by of BNB Daily. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/shutterstock-inc-sstk-coverage-initiated-by-analysts-at-suntrust-banks-inc.html.

Large investors have recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in Shutterstock during the first quarter valued at $102,563,000. BlackRock Inc. boosted its stake in Shutterstock by 140,371.5% in the first quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock valued at $94,562,000 after buying an additional 2,285,248 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Shutterstock by 167.7% in the second quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock valued at $36,323,000 after buying an additional 516,226 shares during the last quarter. Jennison Associates LLC bought a new stake in Shutterstock during the first quarter valued at $19,555,000. Finally, Janus Henderson Group PLC bought a new stake in Shutterstock during the second quarter valued at $20,224,000. Institutional investors and hedge funds own 61.99% of the company’s stock.

About Shutterstock

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.

Analyst Recommendations for Shutterstock (NYSE:SSTK)

Receive News & Ratings for Shutterstock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply