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

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

SSTK has been the subject of several other reports. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Needham & Company LLC decreased their target price on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research report 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.33.

Shutterstock Stock Up 0.3 %

Shutterstock stock opened at $19.47 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $27.13 and a two-hundred day moving average of $30.42. The stock has a market capitalization of $679.39 million, a price-to-earnings ratio of 19.09 and a beta of 1.12. Shutterstock has a twelve month low of $19.13 and a twelve month high of $49.37.

Shutterstock (NYSE:SSTK) last posted 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). The business 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 firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, research analysts expect that Shutterstock will post 3.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SSTK. Truvestments Capital LLC acquired a new stake in Shutterstock during the third quarter valued at approximately $31,000. Amundi raised its stake in Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Shutterstock by 167.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,565 shares in the last quarter. R Squared Ltd acquired a new stake in Shutterstock during the fourth quarter valued at approximately $108,000. Finally, Palouse Capital Management Inc. raised its stake 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 buying an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.