Shutterstock (NYSE:SSTK) Now Covered by Analysts at StockNews.com

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

Several other equities research analysts have also weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reduced their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Up 0.3 %

SSTK opened at $19.47 on Friday. Shutterstock has a 12 month low of $19.13 and a 12 month high of $49.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $679.39 million, a P/E ratio of 19.09 and a beta of 1.12. The stock’s 50 day moving average price is $27.13 and its 200 day moving average price is $30.42.

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

Institutional Trading of Shutterstock

Several hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Shutterstock during the fourth quarter worth $2,716,000. Mackenzie Financial Corp bought a new position in Shutterstock during the fourth quarter valued at about $552,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Shutterstock by 13.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider’s stock valued at $1,753,000 after buying an additional 7,023 shares in the last quarter. Vident Advisory LLC raised its holdings in Shutterstock by 9.1% during the fourth quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider’s stock valued at $481,000 after buying an additional 1,321 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Shutterstock by 83.9% during the fourth quarter. Squarepoint Ops LLC now owns 77,212 shares of the business services provider’s stock valued at $2,343,000 after buying an additional 35,235 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.