Investment analysts at Deutsche Bank raised their price objective on shares of Shutterstock (NYSE:SSTK) from $41.00 to $53.00 in a note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s target price would indicate a potential downside of 6.64% from the company’s current price.
SSTK has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Shutterstock in a research note to investors on Thursday. They now have a $62.00 price target on the stock, up previously from $53.00. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Shutterstock in a research note to investors on Thursday. They now have a $50.00 price target on the stock, down previously from $68.00. Finally, analysts at Cantor Fitzgerald raised their price target on shares of Shutterstock from $48.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock.
Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Shutterstock has a consensus rating of “Buy” and a consensus target price of $56.25.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $56.80 million for the quarter, compared to the consensus estimate of $54.69 million. During the same quarter last year, the company posted $0.27 earnings per share. Shutterstock’s revenue was up 39.9% compared to the same quarter last year. Analysts expect that Shutterstock will post $0.80 EPS for the current fiscal year.
In other Shutterstock news, COO Thilo Semmelbauer sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $54.51, for a total transaction of $272,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shutterstock, Inc (NYSE:SSTK) operates as a marketplace for commercial digital imagery.
