Shutterstock (NYSE:SSTK) Rating Lowered to Hold at StockNews.com

Shutterstock (NYSE:SSTK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other equities analysts have also recently commented on SSTK. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Shutterstock in a report on Tuesday, August 6th. Morgan Stanley boosted their target price on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd.

Shutterstock Stock Performance

NYSE SSTK opened at $35.49 on Friday. The firm’s 50 day moving average price is $36.98 and its two-hundred day moving average price is $39.85. Shutterstock has a twelve month low of $32.38 and a twelve month high of $54.40. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 13.75 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). Shutterstock had a return on equity of 20.45% and a net margin of 5.33%. The business had revenue of $220.05 million during the quarter, compared to analysts’ expectations of $213.44 million. During the same period in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Shutterstock will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in Shutterstock by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 286,729 shares of the business services provider’s stock valued at $13,843,000 after buying an additional 10,389 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Shutterstock in the 4th quarter worth about $213,000. Dimensional Fund Advisors LP increased its position in shares of Shutterstock by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 819,656 shares of the business services provider’s stock worth $39,574,000 after purchasing an additional 13,899 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Shutterstock by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 146,428 shares of the business services provider’s stock valued at $7,070,000 after purchasing an additional 372 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Shutterstock by 469.3% in the fourth quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock valued at $43,761,000 after buying an additional 747,180 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

Shutterstock Company Profile

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.