Shutterstock (NYSE:SSTK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Shutterstock (NYSE:SSTK) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other analysts have also issued reports on the company. Needham & Company LLC lowered their target price on Shutterstock from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, June 2nd. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.67.

Shutterstock Stock Up 7.7%

SSTK stock opened at $20.10 on Friday. The stock’s fifty day simple moving average is $18.94 and its two-hundred day simple moving average is $20.41. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20. Shutterstock has a 1-year low of $14.35 and a 1-year high of $39.66. The stock has a market cap of $712.77 million, a P/E ratio of 11.10 and a beta of 0.99.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.46). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%. The business had revenue of $266.99 million during the quarter, compared to analysts’ expectations of $248.27 million. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts expect that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Thursday, September 4th. Shutterstock’s dividend payout ratio is currently 72.93%.

Hedge Funds Weigh In On Shutterstock

A number of institutional investors have recently added to or reduced their stakes in SSTK. Performa Ltd US LLC purchased a new position in shares of Shutterstock in the 1st quarter worth about $25,000. Versant Capital Management Inc boosted its holdings in shares of Shutterstock by 1,908.6% in the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Shutterstock in the 1st quarter worth about $28,000. Signaturefd LLC boosted its holdings in shares of Shutterstock by 10,268.8% in the 2nd quarter. Signaturefd LLC now owns 1,659 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,643 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Shutterstock by 93.8% in the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock worth $34,000 after purchasing an additional 876 shares in the last quarter. 82.79% of the stock is currently 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.