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

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK - Free Report) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the business services provider's stock.

Other research analysts have also issued reports about the company. Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC dropped their price objective on shares of Shutterstock from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, Morgan Stanley decreased their target price on shares of Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $50.33.

Shutterstock Price Performance

SSTK traded down $0.32 during trading on Friday, reaching $29.21. The stock had a trading volume of 624,361 shares, compared to its average volume of 896,226. Shutterstock has a 1-year low of $27.30 and a 1-year high of $54.40. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 28.64 and a beta of 1.08. The stock has a 50 day moving average of $31.03 and a two-hundred day moving average of $33.58. 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 - Get Free Report) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. During the same period in the previous year, the company earned $0.99 earnings per share. Shutterstock's revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Shutterstock will post 3.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Shutterstock

A number of large investors have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new stake in shares of Shutterstock in the third quarter worth $31,000. Quarry LP lifted its position in Shutterstock by 313.0% during the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider's stock worth $43,000 after acquiring an additional 842 shares during the last quarter. R Squared Ltd bought a new stake in Shutterstock during the fourth quarter valued at about $108,000. Covestor Ltd grew its position in shares of Shutterstock by 9.5% in the third 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. Finally, AXA S.A. increased its stake in shares of Shutterstock by 38.4% in the second quarter. AXA S.A. now owns 6,377 shares of the business services provider's stock worth $247,000 after purchasing an additional 1,768 shares during the period. 82.79% of the stock is currently owned by institutional investors.

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.