3 days Ago By ABMN Staff
Shutterstock ( NYSE:SSTK – Get Free Report ) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. A number of other equities research analysts also recently weighed in on the company.
Morgan Stanley lifted their price objective on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd.
Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Shutterstock in a report on Tuesday, August 6th. Get Our Latest Report on SSTK Shutterstock Stock Performance Shutterstock ( NYSE:SSTK – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th.
The business services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.
01). The business had revenue of $220.05 million for the quarter, compared to analyst estimates of $213.
44 million. Shutterstock had a return on equity of 20.45% and a net margin of 5.
33%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis.
During the same quarter in the prior year, the firm earned $0.76 EPS. As a group, equities analysts forecast that Shutterstock will post 3.
22 earnings per share for the current year. Hedge Funds Weigh In On Shutterstock A number of large investors have recently modified their holdings of SSTK. Vanguard Group Inc.
raised its position in Shutterstock by 1.7% in the 1st quarter. Vanguard Group Inc.
now owns 2,926,166 shares of the business services provider’s stock worth $134,048,000 after purchasing an additional 47,929 shares during the last quarter. TD Asset Management Inc increased its position in Shutterstock by 13.7% in the second quarter.
TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock worth $69,425,000 after purchasing an additional 215,539 shares during the period. LSV Asset Management raised its holdings in Shutterstock by 30.9% during the 1st quarter.
LSV Asset Management now owns 1,793,785 shares of the business services provider’s stock worth $82,173,000 after purchasing an additional 422,942 shares during the last quarter. Trigran Investments Inc. lifted its position in Shutterstock by 15.
5% during the 4th quarter. Trigran Investments Inc. now owns 1,214,726 shares of the business services provider’s stock valued at $58,647,000 after purchasing an additional 163,268 shares during the period.
Finally, Epoch Investment Partners Inc. grew its position in shares of Shutterstock by 22.8% during the 2nd quarter.
Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock worth $42,010,000 after buying an additional 201,391 shares during the period. 82.
79% of the stock is currently owned by institutional investors and hedge funds. 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.
See Also Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter ..
