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

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

Several other equities research analysts also recently commented on the stock. Needham & Company LLC reduced their price target on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $45.33.

Shutterstock Price Performance

Shares of NYSE:SSTK traded up $0.02 on Monday, reaching $18.65. 460,820 shares of the company traded hands, compared to its average volume of 528,720. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $650.91 million, a PE ratio of 18.29 and a beta of 1.12. The company's 50 day moving average is $24.55 and its 200-day moving average is $29.24. Shutterstock has a fifty-two week low of $17.17 and a fifty-two week high of $46.46.

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Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The company had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. As a group, analysts anticipate that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Institutional Trading of Shutterstock

A number of institutional investors have recently bought and sold shares of SSTK. Amundi increased its position in 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 during the last quarter. Covestor Ltd increased its holdings in Shutterstock by 11.3% in the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock worth $155,000 after buying an additional 515 shares during the last quarter. Palouse Capital Management Inc. raised its position in Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after acquiring an additional 525 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Shutterstock by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock valued at $1,066,000 after acquiring an additional 532 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its position in Shutterstock by 5.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider's stock worth $325,000 after acquiring an additional 548 shares in the last quarter. Institutional investors and hedge funds 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.