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

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

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC lowered their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.33.

Shutterstock Trading Down 0.2 %

SSTK opened at $22.75 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $29.64 and its two-hundred day moving average is $31.74. The company has a market capitalization of $793.09 million, a P/E ratio of 22.30 and a beta of 1.08. Shutterstock has a 52 week low of $22.36 and a 52 week high of $54.40.

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

Institutional Investors Weigh In On Shutterstock

Institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of Shutterstock during the third quarter worth $31,000. Amundi boosted its position in shares of 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 purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after buying an additional 1,565 shares during the last quarter. R Squared Ltd acquired a new position in Shutterstock during the 4th quarter valued at about $108,000. Finally, Palouse Capital Management Inc. raised its stake 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 valued at $132,000 after buying an additional 525 shares during the last quarter. 82.79% of the stock is currently 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.