SunTrust Banks, Inc. Initiates Coverage on Shutterfly, Inc. (SFLY)

SunTrust Banks, Inc. assumed coverage on shares of Shutterfly, Inc. (NASDAQ:SFLY) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $56.00 price objective on the technology company’s stock. SunTrust Banks also issued estimates for Shutterfly’s Q3 2017 earnings at ($0.79) EPS, Q4 2017 earnings at $2.89 EPS, FY2017 earnings at $0.50 EPS, FY2018 earnings at $1.49 EPS, FY2019 earnings at $1.80 EPS, FY2020 earnings at $2.07 EPS and FY2021 earnings at $2.27 EPS.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Shutterfly from a hold rating to a sell rating in a research note on Saturday, June 10th. Aegis reaffirmed a buy rating and issued a $57.00 price target on shares of Shutterfly in a research note on Wednesday, April 26th. Royal Bank Of Canada upped their price target on shares of Shutterfly from $54.00 to $59.00 and gave the stock an outperform rating in a research note on Wednesday, April 26th. Cantor Fitzgerald reaffirmed a buy rating and issued a $57.00 price target on shares of Shutterfly in a research note on Tuesday, May 16th. Finally, Zacks Investment Research raised shares of Shutterfly from a hold rating to a strong-buy rating and set a $57.00 price target on the stock in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Shutterfly presently has an average rating of Hold and an average price target of $54.10.

Shares of Shutterfly (NASDAQ SFLY) opened at 44.99 on Tuesday. The stock’s 50 day moving average price is $47.34 and its 200 day moving average price is $48.12. Shutterfly has a 12-month low of $41.91 and a 12-month high of $53.99. The firm has a market cap of $1.50 billion, a PE ratio of 274.33 and a beta of 0.85.

Shutterfly (NASDAQ:SFLY) last announced its earnings results on Tuesday, July 25th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by $0.13. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The firm had revenue of $209.03 million for the quarter, compared to analyst estimates of $209.46 million. During the same period last year, the firm earned ($0.48) earnings per share. Shutterfly’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Shutterfly will post $0.47 EPS for the current fiscal year.

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In other news, SVP Tracy Layney sold 21,750 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $48.60, for a total transaction of $1,057,050.00. Following the completion of the transaction, the senior vice president now owns 43,500 shares of the company’s stock, valued at $2,114,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa Blackwood-Kapral sold 1,250 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $46.56, for a total transaction of $58,200.00. Following the transaction, the insider now directly owns 1,250 shares of the company’s stock, valued at approximately $58,200. The disclosure for this sale can be found here. Insiders have sold 61,540 shares of company stock valued at $3,016,780 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. bought a new position in shares of Shutterfly during the first quarter worth approximately $8,546,000. Pivot Point Capital Partners LLC bought a new position in shares of Shutterfly during the first quarter worth approximately $3,998,000. Karp Capital Management Corp bought a new position in shares of Shutterfly during the first quarter worth approximately $458,000. Koch Industries Inc. bought a new position in shares of Shutterfly during the first quarter worth approximately $259,000. Finally, Capstone Asset Management Co. bought a new position in shares of Shutterfly during the first quarter worth approximately $480,000.

About Shutterfly

Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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