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

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

A number of other equities research analysts have also commented on SSTK. Morgan Stanley lowered their price target on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. Truist Financial reduced their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

Shutterstock Price Performance

SSTK stock opened at $31.47 on Monday. 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 firm has a market cap of $1.10 billion, a P/E ratio of 30.85 and a beta of 1.08. The firm’s fifty day moving average is $31.53 and its 200 day moving average is $34.29. Shutterstock has a 52 week low of $28.64 and a 52 week high of $54.40.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data 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. The firm had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. Research analysts predict that Shutterstock will post 3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Truvestments Capital LLC purchased a new stake in Shutterstock in the third quarter worth about $31,000. Allspring Global Investments Holdings LLC grew its stake 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 worth $37,000 after buying an additional 952 shares during the last quarter. Quarry LP increased its position in Shutterstock by 313.0% during the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after buying an additional 842 shares in the last quarter. Headlands Technologies LLC raised its stake in 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 buying an additional 3,107 shares during the last quarter. Finally, Palouse Capital Management Inc. boosted its holdings in Shutterstock by 20.7% in the second quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock worth $150,000 after acquiring an additional 665 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

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.