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 report published on Friday.

Separately, Needham & Company LLC reduced their price objective on shares of Shutterstock from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Shutterstock presently has an average rating of “Hold” and an average target price of $43.67.

Shutterstock Price Performance

NYSE:SSTK opened at $21.05 on Friday. The business’s 50-day moving average price is $20.67 and its 200 day moving average price is $18.93. The firm has a market cap of $746.50 million, a P/E ratio of 11.63 and a beta of 1.05. Shutterstock has a 52-week low of $14.35 and a 52-week high of $38.80. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.46). The firm had revenue of $266.99 million for the quarter, compared to analyst estimates of $248.27 million. Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.Shutterstock’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 earnings per share. As a group, sell-side analysts predict that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Thursday, September 4th. Shutterstock’s dividend payout ratio is 72.93%.

Institutional Trading of Shutterstock

A number of hedge funds have recently made changes to their positions in SSTK. Performa Ltd US LLC purchased a new stake in shares of Shutterstock in the first quarter worth approximately $25,000. Versant Capital Management Inc lifted its position in shares of Shutterstock by 1,908.6% in the first 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 stake in shares of Shutterstock in the first quarter worth approximately $28,000. WealthCollab LLC lifted its position in shares of Shutterstock by 106.3% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after purchasing an additional 748 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Shutterstock by 10,268.8% in the second 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. 82.79% of the stock is owned by hedge funds and other 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.