Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

by · The Markets Daily

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK – Free Report) in a report released on Saturday. The firm issued a hold rating on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Needham & Company LLC decreased their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.33.

View Our Latest Analysis on SSTK

Shutterstock Price Performance

SSTK stock opened at $19.61 on Friday. The stock has a 50-day moving average price of $26.92 and a two-hundred day moving average price of $30.31. Shutterstock has a 1 year low of $18.95 and a 1 year high of $49.35. The stock has a market cap of $684.20 million, a PE ratio of 19.22 and a beta of 1.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK – Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. Equities analysts forecast that Shutterstock will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 6.73%. The ex-dividend date is Thursday, March 6th. Shutterstock’s dividend payout ratio is 130.69%.

Institutional Trading of Shutterstock

A number of large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in Shutterstock by 97.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock valued at $939,000 after purchasing an additional 13,088 shares during the last quarter. Quest Partners LLC raised its stake in Shutterstock by 436.2% in the third quarter. Quest Partners LLC now owns 28,987 shares of the business services provider’s stock valued at $1,025,000 after buying an additional 23,581 shares during the period. Segall Bryant & Hamill LLC raised its stake in Shutterstock by 2.0% in the third quarter. Segall Bryant & Hamill LLC now owns 47,437 shares of the business services provider’s stock valued at $1,678,000 after buying an additional 951 shares during the period. Moors & Cabot Inc. bought a new position in shares of Shutterstock during the 3rd quarter worth approximately $284,000. Finally, Intech Investment Management LLC bought a new position in shares of Shutterstock during the 3rd quarter worth approximately $388,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

About Shutterstock

(Get Free Report)

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.

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