Shutterstock (NYSE:SSTK) Rating Lowered to Hold at Truist Financial

Shutterstock (NYSE:SSTK) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

Several other equities research analysts have also commented on the stock. Needham & Company LLC cut their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, StockNews.com started coverage on shares of Shutterstock in a report on Wednesday, February 19th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $50.33.

Shutterstock Stock Down 0.2 %

Shares of Shutterstock stock opened at $22.75 on Tuesday. The firm’s 50 day moving average price is $29.64 and its 200-day moving average price is $31.74. 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 52-week low of $22.36 and a 52-week high of $54.40. The company has a market cap of $793.09 million, a P/E ratio of 22.30 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last released its 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). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $254.16 million. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, sell-side analysts predict that Shutterstock will post 3.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp bought a new position in shares of Shutterstock in the 4th quarter valued at approximately $552,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Shutterstock by 13.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider’s stock valued at $1,753,000 after buying an additional 7,023 shares during the last quarter. Vident Advisory LLC grew its stake in Shutterstock by 9.1% in the 4th quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider’s stock valued at $481,000 after buying an additional 1,321 shares during the last quarter. Squarepoint Ops LLC grew its stake in Shutterstock by 83.9% in the 4th quarter. Squarepoint Ops LLC now owns 77,212 shares of the business services provider’s stock valued at $2,343,000 after buying an additional 35,235 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Shutterstock by 111.7% in the 4th quarter. Two Sigma Advisers LP now owns 34,500 shares of the business services provider’s stock valued at $1,047,000 after buying an additional 18,200 shares during the last quarter. 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.