SunTrust Banks Raises Shutterfly (SFLY) Price Target to $60.00

Shutterfly (NASDAQ:SFLY) had its price objective lifted by SunTrust Banks to $60.00 in a report issued on Friday morning, The Fly reports. The firm currently has a buy rating on the technology company’s stock. SunTrust Banks also issued estimates for Shutterfly’s FY2022 earnings at $2.81 EPS.

Several other research firms have also recently commented on SFLY. BidaskClub upgraded Shutterfly from a sell rating to a hold rating in a research report on Friday, December 29th. ValuEngine upgraded Shutterfly from a sell rating to a hold rating in a research report on Friday, December 29th. Aegis restated a buy rating and issued a $56.00 target price on shares of Shutterfly in a research report on Tuesday, October 24th. Goldman Sachs Group restated a neutral rating and issued a $47.00 target price on shares of Shutterfly in a research report on Wednesday, October 11th. Finally, Zacks Investment Research cut Shutterfly from a hold rating to a sell rating in a research report on Tuesday, October 10th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Shutterfly presently has a consensus rating of Hold and a consensus price target of $54.00.

Shares of Shutterfly (NASDAQ:SFLY) traded up $0.70 during trading on Friday, hitting $53.08. The stock had a trading volume of 1,225,600 shares, compared to its average volume of 794,133. The firm has a market cap of $1,742.76, a PE ratio of 279.37 and a beta of 0.84. Shutterfly has a fifty-two week low of $39.76 and a fifty-two week high of $53.99.

Shutterfly (NASDAQ:SFLY) last posted its earnings results on Tuesday, October 24th. The technology company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.01. Shutterfly had a return on equity of 4.66% and a net margin of 0.81%. The firm had revenue of $195.44 million for the quarter, compared to analysts’ expectations of $191.65 million. During the same period last year, the firm earned ($0.86) EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. equities research analysts predict that Shutterfly will post 0.45 earnings per share for the current fiscal year.

In other Shutterfly news, SVP Satish Menon sold 25,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $42.30, for a total transaction of $1,057,500.00. Following the completion of the transaction, the senior vice president now directly owns 38,221 shares of the company’s stock, valued at approximately $1,616,748.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ishantha Lokuge sold 2,838 shares of the stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $48.27, for a total value of $136,990.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,003 shares of company stock valued at $3,060,675. 0.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFLY. Bessemer Group Inc. bought a new stake in shares of Shutterfly during the 3rd quarter worth $112,000. Riverhead Capital Management LLC boosted its stake in shares of Shutterfly by 62.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,431 shares of the technology company’s stock worth $116,000 after acquiring an additional 931 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Shutterfly during the 2nd quarter worth $119,000. SG Americas Securities LLC bought a new stake in shares of Shutterfly during the 3rd quarter worth $162,000. Finally, Pinebridge Investments L.P. boosted its stake in shares of Shutterfly by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,450 shares of the technology company’s stock worth $211,000 after acquiring an additional 60 shares in the last quarter.

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Shutterfly Company Profile

Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.

The Fly

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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