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

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the business services provider’s stock.

SSTK has been the subject of several other research reports. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC cut their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Up 0.8 %

Shares of NYSE:SSTK opened at $20.16 on Friday. The firm has a market cap of $703.60 million, a P/E ratio of 19.77 and a beta of 1.12. Shutterstock has a 12-month low of $19.59 and a 12-month high of $54.40. The business has a fifty day simple moving average of $28.18 and a 200 day simple moving average of $30.95. 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 (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $254.16 million. During the same period in the prior year, the firm earned $0.72 earnings per share. Shutterstock’s revenue was up 15.2% compared to the same quarter last year. Analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SSTK. Janney Montgomery Scott LLC grew its position in Shutterstock by 97.3% during the third quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock worth $939,000 after buying an additional 13,088 shares in the last quarter. Verity Asset Management Inc. grew its position in Shutterstock by 140.4% during the third quarter. Verity Asset Management Inc. now owns 14,401 shares of the business services provider’s stock valued at $509,000 after acquiring an additional 8,411 shares during the last quarter. Covestor Ltd grew its holdings in shares of Shutterstock by 9.5% during the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after purchasing an additional 397 shares during the last quarter. Quest Partners LLC lifted its stake in Shutterstock by 436.2% in the third quarter. Quest Partners LLC now owns 28,987 shares of the business services provider’s stock worth $1,025,000 after purchasing an additional 23,581 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in Shutterstock by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 47,437 shares of the business services provider’s stock valued at $1,678,000 after buying an additional 951 shares during the period. Institutional investors own 82.79% of the company’s stock.

About Shutterstock

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.