JMP Securities Reiterates “Market Perform” Rating for Shutterstock (NYSE:SSTK)

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

SSTK has been the topic of several other reports. Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a report on Tuesday, October 29th. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. Finally, Morgan Stanley decreased their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.67.

Shutterstock Trading Up 15.0 %

NYSE SSTK opened at $34.55 on Monday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 33.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock has a 12 month low of $28.64 and a 12 month high of $54.40. The company’s fifty day moving average price is $31.54 and its two-hundred day moving average price is $34.19.

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

Institutional Investors Weigh In On Shutterstock

Several large investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of Shutterstock during the third quarter worth approximately $31,000. Allspring Global Investments Holdings LLC raised its stake in Shutterstock by 31,733.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 952 shares in the last quarter. Quarry LP grew its stake 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 increased 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 valued at $129,000 after purchasing an additional 3,107 shares during the period. Finally, Palouse Capital Management Inc. raised its stake in shares of 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.