Brokerages Anticipate Shutterstock, Inc. (NYSE:SSTK) Will Announce Quarterly Sales of $179.13 Million

Equities analysts expect Shutterstock, Inc. (NYSE:SSTK) to report $179.13 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Shutterstock’s earnings. The lowest sales estimate is $176.80 million and the highest is $181.46 million. Shutterstock posted sales of $159.23 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The company is expected to issue its next quarterly earnings report on Tuesday, July 27th.

On average, analysts expect that Shutterstock will report full-year sales of $729.12 million for the current year, with estimates ranging from $728.10 million to $730.13 million. For the next fiscal year, analysts anticipate that the company will report sales of $793.57 million, with estimates ranging from $791.10 million to $796.03 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Shutterstock.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, April 27th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.29. Shutterstock had a return on equity of 15.13% and a net margin of 7.70%. The business had revenue of $183.30 million for the quarter, compared to analysts’ expectations of $175.67 million. During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis.

Several analysts have recently issued reports on the stock. Needham & Company LLC began coverage on shares of Shutterstock in a research report on Monday, May 3rd. They set a “buy” rating and a $105.00 target price on the stock. JMP Securities raised their price objective on Shutterstock from $100.00 to $110.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 4th. Truist boosted their target price on Shutterstock from $86.00 to $102.00 in a research report on Wednesday, April 28th. Truist Securities raised their price target on Shutterstock from $86.00 to $102.00 in a research report on Wednesday, April 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price on shares of Shutterstock in a research note on Wednesday, January 27th. Six investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $95.71.

SSTK stock opened at $87.66 on Friday. Shutterstock has a 52 week low of $33.45 and a 52 week high of $104.57. The firm has a market capitalization of $3.20 billion, a P/E ratio of 63.07, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05. The company has a fifty day simple moving average of $90.46 and a two-hundred day simple moving average of $78.82.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, June 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, June 2nd. Shutterstock’s dividend payout ratio is presently 113.51%.

In other Shutterstock news, CAO Steven Ciardiello sold 1,880 shares of the firm’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $91.79, for a total transaction of $172,565.20. Following the transaction, the chief accounting officer now directly owns 32,601 shares in the company, valued at approximately $2,992,445.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Peter Silvio sold 5,164 shares of Shutterstock stock in a transaction on Friday, March 5th. The shares were sold at an average price of $87.00, for a total value of $449,268.00. Following the sale, the chief technology officer now directly owns 24,577 shares of the company’s stock, valued at $2,138,199. The disclosure for this sale can be found here. Insiders have sold a total of 239,687 shares of company stock valued at $21,340,513 in the last quarter. 46.80% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in SSTK. LPL Financial LLC increased its position in Shutterstock by 3.5% during the 4th quarter. LPL Financial LLC now owns 4,751 shares of the business services provider’s stock valued at $341,000 after purchasing an additional 160 shares during the period. Mutual of America Capital Management LLC increased its holdings in Shutterstock by 7.2% during the first quarter. Mutual of America Capital Management LLC now owns 2,953 shares of the business services provider’s stock valued at $263,000 after buying an additional 199 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Shutterstock by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 9,053 shares of the business services provider’s stock worth $806,000 after buying an additional 200 shares in the last quarter. Occudo Quantitative Strategies LP lifted its holdings in Shutterstock by 5.1% during the first quarter. Occudo Quantitative Strategies LP now owns 4,420 shares of the business services provider’s stock worth $394,000 after buying an additional 216 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in Shutterstock by 3.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,880 shares of the business services provider’s stock valued at $613,000 after acquiring an additional 220 shares in the last quarter. 64.10% of the stock is owned by institutional investors.

About Shutterstock

Shutterstock, Inc, a technology company, provides content, and tools and services in North America, Europe, and internationally. It 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, and 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 digital imagery.

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