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

Investment analysts at StockNews.com assumed coverage on shares of Shutterstock (NYSE:SSTK - Get Free Report) in a research note issued on Tuesday. The firm set a "hold" rating on the business services provider's stock.

Other equities research analysts have also issued research reports about the stock. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. Needham & Company LLC reduced their target price on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. Finally, Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $45.33.

Shutterstock Stock Up 1.0 %

Shares of SSTK traded up $0.16 on Tuesday, reaching $15.50. The company's stock had a trading volume of 853,529 shares, compared to its average volume of 539,116. The stock has a market capitalization of $540.82 million, a PE ratio of 15.20 and a beta of 1.13. Shutterstock has a twelve month low of $14.35 and a twelve month high of $46.10. The firm has a fifty day moving average of $21.59 and a 200-day moving average of $27.88. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

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Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 20.39% and a net margin of 4.03%. Shutterstock's revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts predict that Shutterstock will post 3.12 EPS for the current year.

Hedge Funds Weigh In On Shutterstock

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Shutterstock by 25,981.9% during the first quarter. GAMMA Investing LLC now owns 21,648 shares of the business services provider's stock worth $403,000 after purchasing an additional 21,565 shares during the period. Versant Capital Management Inc lifted its stake in shares of Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after buying an additional 1,336 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Shutterstock by 11.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider's stock worth $201,000 after buying an additional 682 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Shutterstock in the 4th quarter valued at approximately $2,716,000. Finally, Mackenzie Financial Corp purchased a new position in Shutterstock in the 4th quarter valued at approximately $552,000. 82.79% of the stock is 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.