According to the information provided by Bloomberg.com, the seven rating agencies presently keeping an eye on Shutterstock, Inc. (NYSE: SSTK) have collectively provided the company with a rating equivalent to a “Moderate Buy.” It would appear that this rating was bestowed upon the company. While two research experts recommend that investors keep their current position with the stock, four research analysts have rated the stock as a buy. $63.00 is the one-year price target assigned to the share by brokers who covered the stock in the previous year.
Several different stock analysts have offered their opinions on the subject of SSTK in a recent commentary. On October 12, coverage of Shutterstock was first presented on the website StockNews.com. They suggested to the investors that the best action would be to “buy” the shares. In a research report that was made public on October 24, Trust Financial lowered its price target on shares of Shutterstock from $100.00 to $80.00 while maintaining its “buy” recommendation on the stock. The report was about the company’s stock. In a research report that was made public on Tuesday, October 25, Morgan Stanley announced that the brokerage firm’s price target for Shutterstock shares had decreased from $54.00 to $47.00.
Additionally, an “equal weight” rating was given to the stock by the company. Needham & Company LLC lowered their price objective on shares of Shutterstock from $70.00 to $62.00 in a report published on Wednesday, October 26. However, they did not change the stock’s “buy” rating. JMP Securities lowered their recommendation for Shutterstock on November 28, bringing it down from “outperform” to “market perform.” The final and most significant adjustment was made here.
Trading of SSTK shares began on Thursday with a starting price of $61.38 per share. The price of Shutterstock has ranged from as low as $44.61 to as high as $98.74 at any point in time, with the current price being the highest. The stock’s simple moving average over the past 50 days is $53.49, and its simple moving average over the past 200 days is $54.53, respectively. The company has a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 6.85, and a beta value of 1.06. The market value of the company is $2.20 billion.
Shutterstock (NYSE: SSTK) announced the most recent results of its financial operations on Tuesday, October 25. The company reported earnings per share (EPS) of $0.81 for the quarter, which was $0.04 higher than the consensus estimate of $0.77 among financial analysts. The return on equity for Shutterstock was 24.111 percent, while the net margin for the company was 10.53 percent. The sales for the company for the quarter came in at $204.10 million, which is lower than the projections made by analysts, who were looking for $210.48 million in revenue. In the current fiscal year, stock market analysts forecast that Shutterstock will generate $3.35 per share earnings.
Over the past few months, SSTK has been supplanted as an investor by various hedge funds and other institutional investors. A 1.3% increase in the proportion of Shutterstock shares that BlackRock Inc. owns as of the end of the third quarter was achieved. BlackRock Inc. now has 3,854,562 shares of the business services provider’s stock, valued at $193,384,000 after the company purchased 49,536 shares during the most recent quarter. As of the end of the third quarter, Vanguard Group Inc. owned 3.2% more of Shutterstock than it did at the beginning of the period. Vanguard Group Inc. now holds 2,927,585 shares of the business services provider’s stock, with a market value of $146,877,000. This resulted from purchasing 90,342 additional shares during the most recent fiscal quarter. The number of Shutterstock shares that Wellington Management Group LLP owned as of the end of the first quarter of 2018 was 6.9% higher than at the beginning of the year. Following the acquisition of 138,474 additional shares in the business services provider during the most recent fiscal quarter, Wellington Management Group LLP owns 2,132,514 shares. The value of these shares on the market as of right now is $198,495,000. Macquarie Group Ltd. increased the percentage of Shutterstock shares that it owned by 15.4% during the third quarter. Macquarie Group Ltd. now holds 1,316,027 shares of the business services provider’s stock, following the acquisition of an additional 175,392 shares during the most recent quarter. The stock is currently valued at $66,030,000.
Last but not least, Renaissance Technologies LLC increased its holdings in Shutterstock by 9.4 percent during the second quarter. This certainly should not be considered the least important development. Renaissance Technologies LLC now holds 994,901 shares of the business services provider’s stock after the acquisition of an additional 85,400 shares during the most recent quarter. The value of these shares on the market as of right now is $57,018,000. To the tune of 70.01 percent, the company’s stock is owned by institutional investors and hedge funds.
Shutterstock, Inc. is a technology company that operates in various parts of the world, including North America and Europe. The provision of high-quality content and tools for creative workflow is included in the company’s services. It provides image services such as photography, vectors, and illustrations, which are utilized in visual communications such as websites, digital and print marketing materials, corporate communications, books, publications, and other similar mediums; footage services such as video clips shot by industry professionals and cinema-grade video effects, as well as HD and 4K formats, which are incorporated into websites, social media, marketing campaigns, and cinematic productions; and image services such as photography, vectors, and illustrations, which are utilized in visual communications such as websites, digital and print marketing materials, corporate communications, books, publications