Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a report released on Saturday. The firm issued a hold rating on the business services provider’s stock.

SSTK has been the subject of several other reports. Truist Financial lowered their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC lowered their price target on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. Morgan Stanley dropped their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Shutterstock has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Stock Performance

Shares of SSTK opened at $30.89 on Friday. Shutterstock has a 52-week low of $27.30 and a 52-week high of $54.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 30.28 and a beta of 1.08. The business’s 50 day moving average is $31.15 and its two-hundred day moving average is $33.78.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Analysts forecast that Shutterstock will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Friday, November 29th. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new stake in Shutterstock in the third quarter valued at $31,000. Quarry LP lifted its position in Shutterstock by 313.0% in the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 842 shares during the last quarter. Covestor Ltd boosted its stake in Shutterstock by 9.5% during the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after purchasing an additional 397 shares during the period. AXA S.A. grew its position in Shutterstock by 38.4% in the 2nd quarter. AXA S.A. now owns 6,377 shares of the business services provider’s stock worth $247,000 after purchasing an additional 1,768 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Shutterstock in the third quarter valued at approximately $284,000. 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.