Shutterstock, Inc. (NYSE:SSTK) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Shutterstock, Inc. (NYSE:SSTK) from a buy rating to a hold rating in a research report released on Monday morning.

Several other research firms also recently weighed in on SSTK. TheStreet downgraded Shutterstock from a b- rating to a c rating in a research note on Friday, July 7th. Jefferies Group LLC reiterated a hold rating and set a $50.00 price target on shares of Shutterstock in a research note on Friday, June 23rd. Royal Bank Of Canada reiterated a hold rating and set a $50.00 price target on shares of Shutterstock in a research note on Friday, April 21st. Finally, Zacks Investment Research upgraded Shutterstock from a sell rating to a hold rating in a research note on Tuesday, May 2nd. Nine analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and an average price target of $49.75.

Shutterstock (NYSE:SSTK) opened at 44.21 on Monday. The company has a market capitalization of $1.53 billion, a PE ratio of 47.49 and a beta of 1.42. The firm’s 50-day moving average is $44.53 and its 200-day moving average is $45.67. Shutterstock has a 52-week low of $39.66 and a 52-week high of $65.16.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $130.20 million during the quarter, compared to the consensus estimate of $129.62 million. Shutterstock had a return on equity of 12.74% and a net margin of 6.52%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts forecast that Shutterstock will post $1.47 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SSTK. Rice Hall James & Associates LLC increased its position in Shutterstock by 43.7% in the first quarter. Rice Hall James & Associates LLC now owns 302,218 shares of the business services provider’s stock valued at $12,497,000 after buying an additional 91,921 shares during the last quarter. Capital Impact Advisors LLC increased its position in Shutterstock by 70.9% in the first quarter. Capital Impact Advisors LLC now owns 40,940 shares of the business services provider’s stock valued at $1,693,000 after buying an additional 16,983 shares during the last quarter. Fox Run Management L.L.C. increased its position in Shutterstock by 28.7% in the first quarter. Fox Run Management L.L.C. now owns 6,563 shares of the business services provider’s stock valued at $271,000 after buying an additional 1,463 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Shutterstock during the fourth quarter valued at $4,022,000. Finally, Teachers Advisors LLC increased its position in Shutterstock by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 32,069 shares of the business services provider’s stock valued at $1,524,000 after buying an additional 513 shares during the last quarter. Institutional investors own 60.40% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.