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

Investment analysts at StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK) in a research note issued on Sunday. The firm set a “hold” rating on the business services provider’s stock.

Other research analysts also recently issued reports about the company. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC cut their price objective 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. Four 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.com, Shutterstock has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Price Performance

SSTK stock opened at $19.67 on Friday. The business has a 50 day simple moving average of $25.78 and a 200-day simple moving average of $29.77. The company has a market capitalization of $686.36 million, a P/E ratio of 19.28 and a beta of 1.12. Shutterstock has a twelve month low of $18.63 and a twelve month high of $47.89. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $254.16 million. During the same period in the previous year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Shutterstock will post 3.12 EPS for the current year.

Institutional Investors Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Truvestments Capital LLC purchased a new position in shares of Shutterstock in the 3rd quarter valued at about $31,000. Amundi grew its position in Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after buying an additional 488 shares during the period. PNC Financial Services Group Inc. increased its holdings in Shutterstock by 167.6% in 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 shares of Shutterstock during the 4th quarter valued at approximately $108,000. Finally, Palouse Capital Management Inc. boosted its stake in shares of Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 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.