Shutterstock (SSTK) Rating Reiterated by SunTrust Banks

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SunTrust Banks reiterated their hold rating on shares of Shutterstock (NYSE:SSTK) in a report released on Thursday, AnalystRatings.com reports. SunTrust Banks currently has a $44.00 price target on the business services provider’s stock.

“We maintain a Hold on the back of mixed 1Q19 results, reflecting continued weakness in Enterprise, but an acceleration in ecom and solid cost mgt. We view the continued acceleration in ecom as a positive, as we favor this segment line over Enterprise given its self-serve/more scalable nature. On the flip side, it seems that Enterprise is working through a transition still, made more difficult by competitive pressures. Our confidence in mgt’s ability to achieve its FY19 guidance, which calls for growth re-acceleration, is low given weakness in Enterprise, exposure to Europe, and competition.”,” the firm’s analyst commented.

Separately, Zacks Investment Research raised Shutterstock from a sell rating to a hold rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and an average target price of $41.00.

Shares of SSTK stock opened at $41.76 on Thursday. Shutterstock has a 1-year low of $31.77 and a 1-year high of $55.76. The stock has a market cap of $1.46 billion, a P/E ratio of 39.77, a P/E/G ratio of 1.61 and a beta of 1.30.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. The company had revenue of $163.33 million for the quarter, compared to the consensus estimate of $166.80 million. During the same period in the previous year, the business earned $0.92 EPS. Shutterstock’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Shutterstock will post 1.08 EPS for the current year.

In other Shutterstock news, insider Martin Brodbeck sold 5,677 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $46.48, for a total value of $263,866.96. Following the completion of the sale, the insider now owns 41,619 shares of the company’s stock, valued at $1,934,451.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 47.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Shutterstock by 3,836.0% in the first quarter. Bank of Montreal Can now owns 36,526 shares of the business services provider’s stock worth $1,703,000 after purchasing an additional 35,598 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Shutterstock by 876.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,354 shares of the business services provider’s stock worth $203,000 after purchasing an additional 3,908 shares during the last quarter. Redmond Asset Management LLC raised its stake in shares of Shutterstock by 1.9% in the first quarter. Redmond Asset Management LLC now owns 12,972 shares of the business services provider’s stock worth $605,000 after purchasing an additional 237 shares during the last quarter. We Are One Seven LLC raised its stake in shares of Shutterstock by 101.6% in the first quarter. We Are One Seven LLC now owns 14,667 shares of the business services provider’s stock worth $683,000 after purchasing an additional 7,390 shares during the last quarter. Finally, Capital Impact Advisors LLC raised its position in Shutterstock by 13.6% during the fourth quarter. Capital Impact Advisors LLC now owns 44,875 shares of the business services provider’s stock valued at $1,604,000 after acquiring an additional 5,380 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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