Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Shutterstock (NYSE:SSTK - Get Free Report) in a report released on Sunday. The brokerage set a "hold" rating on the business services provider's stock.

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

Shutterstock Price Performance

Shares of SSTK traded down $0.53 during mid-day trading on Friday, reaching $19.18. The company had a trading volume of 424,284 shares, compared to its average volume of 512,098. The company has a market capitalization of $669.27 million, a price-to-earnings ratio of 18.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company's 50 day simple moving average is $25.57 and its 200 day simple moving average is $29.66. Shutterstock has a 1-year low of $18.63 and a 1-year high of $47.89.

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Shutterstock (NYSE:SSTK - Get Free Report) last issued its 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). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. During the same quarter in the prior year, the business earned $0.72 EPS. The business's quarterly revenue was up 15.2% on a year-over-year basis. Analysts expect that Shutterstock will post 3.12 EPS for the current year.

Institutional Investors Weigh In On Shutterstock

Several large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in Shutterstock during the fourth quarter valued at $9,903,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Shutterstock in the third quarter worth approximately $8,493,000. Dimensional Fund Advisors LP lifted its stake in Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock valued at $30,904,000 after buying an additional 189,015 shares during the period. Invenomic Capital Management LP lifted its stake in Shutterstock by 28.1% in the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock valued at $18,255,000 after buying an additional 132,055 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Shutterstock by 77.6% during the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock worth $9,087,000 after buying an additional 130,831 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.