StockNews.com Initiates Coverage on Shutterstock (NYSE:SSTK)

StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK) in a report issued on Monday. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC lowered their price target on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Up 0.1 %

SSTK stock opened at $18.65 on Monday. The business’s 50-day moving average price is $24.29 and its 200-day moving average price is $29.13. The stock has a market cap of $650.91 million, a P/E ratio of 18.29 and a beta of 1.12. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a twelve month low of $17.17 and a twelve month high of $46.10.

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

Institutional Investors Weigh In On Shutterstock

A number of hedge funds have recently made changes to their positions in SSTK. Amundi increased its stake in Shutterstock by 26.2% in 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 last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,565 shares in the last quarter. R Squared Ltd bought a new stake in Shutterstock in the fourth quarter worth $108,000. Palouse Capital Management Inc. increased its position in Shutterstock by 13.7% in 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 last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Shutterstock during the fourth quarter valued at $134,000. 82.79% of the stock is currently owned by hedge funds and other 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.