Analysts’ Weekly Ratings Changes for Shutterstock (SSTK)

A number of firms have modified their ratings and price targets on shares of Shutterstock (NYSE: SSTK) recently:

  • 9/3/2020 – Shutterstock was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
  • 8/28/2020 – Shutterstock was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
  • 8/28/2020 – Shutterstock was upgraded by analysts at Truist from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock.
  • 8/27/2020 – Shutterstock was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
  • 8/21/2020 – Shutterstock was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
  • 8/20/2020 – Shutterstock was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
  • 8/4/2020 – Shutterstock was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $61.00 price target on the stock. According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
  • 7/28/2020 – Shutterstock was upgraded by analysts at TheStreet from a “c” rating to a “b” rating.
  • 7/23/2020 – Shutterstock is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $50.00 price target on the stock.

Shutterstock stock opened at $52.05 on Thursday. The firm has a 50 day moving average of $50.71 and a 200 day moving average of $39.81. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 1.21 and a beta of 1.18. Shutterstock Inc has a 12-month low of $28.76 and a 12-month high of $59.45.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, July 28th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.36. The company had revenue of $159.23 million during the quarter, compared to analyst estimates of $149.97 million. Shutterstock had a net margin of 5.05% and a return on equity of 10.85%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, analysts predict that Shutterstock Inc will post 1.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, September 2nd. Shutterstock’s dividend payout ratio (DPR) is currently 91.89%.

In other Shutterstock news, Director Deirdre Mary Bigley sold 1,728 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $53.77, for a total transaction of $92,914.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Oringer sold 39,029 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $48.24, for a total transaction of $1,882,758.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,193,410 shares of company stock valued at $101,154,422. Insiders own 46.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. purchased a new position in shares of Shutterstock in the second quarter valued at $29,000. Advisor Group Holdings Inc. purchased a new position in shares of Shutterstock in the first quarter valued at $50,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Shutterstock in the second quarter valued at $66,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Shutterstock by 44.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,919 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 595 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Shutterstock in the second quarter valued at $94,000. 56.16% of the stock is owned by hedge funds and other institutional investors.

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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