Shutterstock (NYSE:SSTK) Stock Rating Upgraded by Wall Street Zen

Shutterstock (NYSE:SSTK) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

A number of other research analysts also recently issued reports on the stock. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, May 5th. Finally, Needham & Company LLC dropped their price target on shares of Shutterstock from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.67.

Shutterstock Price Performance

Shutterstock stock opened at $17.55 on Friday. The stock’s 50 day moving average is $17.41 and its 200 day moving average is $23.42. Shutterstock has a one year low of $14.35 and a one year high of $46.10. The firm has a market cap of $618.67 million, a P/E ratio of 17.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.23). The firm had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, research analysts expect that Shutterstock will post 3.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SSTK. Alpine Associates Management Inc. acquired a new position in shares of Shutterstock during the 1st quarter valued at $11,177,000. Millennium Management LLC lifted its position in shares of Shutterstock by 109.3% during the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after acquiring an additional 327,203 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Shutterstock during the fourth quarter worth $9,903,000. Invenomic Capital Management LP raised its holdings in Shutterstock by 47.1% during the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock worth $16,488,000 after buying an additional 283,532 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Shutterstock by 63.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 538,670 shares of the business services provider’s stock worth $10,035,000 after buying an additional 209,840 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

About Shutterstock

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.