Shutterstock (NYSE:SSTK) Downgraded to Hold Rating by StockNews.com

Shutterstock (NYSE:SSTK) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

SSTK has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley cut their price target on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday. Finally, Truist Financial cut their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Shutterstock has a consensus rating of “Hold” and an average price target of $53.67.

Shutterstock Stock Down 4.5 %

Shares of SSTK stock traded down $1.41 during trading hours on Monday, hitting $30.06. 774,841 shares of the company’s stock traded hands, compared to its average volume of 891,080. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $31.54 and its two-hundred day simple moving average is $34.19. Shutterstock has a 12-month low of $28.64 and a 12-month high of $54.40. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 29.47 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $250.59 million during the quarter, compared to analysts’ expectations of $240.90 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Shutterstock will post 3.07 EPS for the current year.

Institutional Investors Weigh In On Shutterstock

A number of large investors have recently added to or reduced their stakes in SSTK. Truvestments Capital LLC purchased a new position in shares of Shutterstock in the 3rd quarter worth $31,000. Allspring Global Investments Holdings LLC lifted its holdings in Shutterstock by 31,733.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 952 shares during the period. Quarry LP boosted its position in Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after purchasing an additional 842 shares during the last quarter. Headlands Technologies LLC boosted its position in Shutterstock by 1,339.2% in the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,107 shares during the last quarter. Finally, Palouse Capital Management Inc. grew its stake in shares of Shutterstock by 20.7% during the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 665 shares during the period. 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.