Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a report released on Sunday. The firm set a “hold” rating on the business services provider’s stock.

Several other brokerages also recently issued reports on SSTK. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC reduced their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Stock Performance

Shares of SSTK opened at $19.67 on Friday. Shutterstock has a 12-month low of $18.63 and a 12-month high of $47.89. The stock has a market cap of $686.36 million, a P/E ratio of 19.28 and a beta of 1.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $25.78 and a two-hundred day moving average of $29.77.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, research analysts predict that Shutterstock will post 3.12 EPS for the current fiscal year.

Institutional Trading of Shutterstock

A number of hedge funds have recently added to or reduced their stakes in SSTK. Amundi lifted its holdings in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after acquiring an additional 488 shares during the period. Covestor Ltd increased its position in Shutterstock by 11.3% during the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider’s stock worth $155,000 after purchasing an additional 515 shares during the last quarter. Palouse Capital Management Inc. raised its stake in Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Shutterstock by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock valued at $1,066,000 after purchasing an additional 532 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its stake in shares of Shutterstock by 5.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider’s stock valued at $325,000 after buying an additional 548 shares during the period. 82.79% of the stock is 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.