Analysts forecast that Shutterstock Inc (NYSE:SSTK) will announce sales of $157.94 million for the current quarter, according to Zacks. Five analysts have made estimates for Shutterstock’s earnings, with estimates ranging from $157.28 million to $158.79 million. Shutterstock posted sales of $141.06 million during the same quarter last year, which would indicate a positive year over year growth rate of 12%. The company is expected to issue its next earnings report before the market opens on Tuesday, October 30th.
According to Zacks, analysts expect that Shutterstock will report full-year sales of $633.71 million for the current fiscal year, with estimates ranging from $633.51 million to $634.12 million. For the next year, analysts forecast that the business will post sales of $705.64 million, with estimates ranging from $693.80 million to $712.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Shutterstock.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. The business had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $156.40 million. Shutterstock had a net margin of 6.54% and a return on equity of 7.82%. The business’s revenue was up 16.9% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share.
Several analysts recently commented on SSTK shares. ValuEngine raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. SunTrust Banks reissued a “hold” rating and set a $48.00 target price on shares of Shutterstock in a research note on Wednesday, August 1st. Deutsche Bank increased their target price on shares of Shutterstock from $40.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday, August 15th. Finally, Jefferies Financial Group reissued a “sell” rating and set a $44.00 target price on shares of Shutterstock in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Shutterstock has a consensus rating of “Hold” and a consensus price target of $43.40.
SSTK stock traded down $1.13 on Thursday, hitting $49.71. 342,671 shares of the company’s stock traded hands, compared to its average volume of 249,112. Shutterstock has a 1-year low of $33.33 and a 1-year high of $55.76. The firm has a market cap of $1.91 billion, a PE ratio of 70.01, a P/E/G ratio of 3.19 and a beta of 1.24.
In related news, insider Martin Brodbeck sold 4,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total value of $246,329.34. Following the completion of the sale, the insider now owns 55,101 shares in the company, valued at approximately $2,820,069.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas R. Evans sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $51.18, for a total transaction of $511,800.00. Following the completion of the sale, the director now owns 24,591 shares of the company’s stock, valued at approximately $1,258,567.38. The disclosure for this sale can be found here. 47.20% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. OppenheimerFunds Inc. lifted its position in shares of Shutterstock by 14.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 7,500 shares of the business services provider’s stock valued at $356,000 after acquiring an additional 949 shares in the last quarter. CWM LLC lifted its position in shares of Shutterstock by 3.7% in the 2nd quarter. CWM LLC now owns 40,701 shares of the business services provider’s stock valued at $1,932,000 after acquiring an additional 1,444 shares in the last quarter. Swiss National Bank lifted its position in shares of Shutterstock by 4.7% in the 1st quarter. Swiss National Bank now owns 33,200 shares of the business services provider’s stock valued at $1,599,000 after acquiring an additional 1,500 shares in the last quarter. Algert Global LLC lifted its position in shares of Shutterstock by 14.0% in the 2nd quarter. Algert Global LLC now owns 16,503 shares of the business services provider’s stock valued at $783,000 after acquiring an additional 2,022 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its position in shares of Shutterstock by 40.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 8,303 shares of the business services provider’s stock valued at $394,000 after acquiring an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 63.81% of the company’s stock.
Shutterstock Company Profile
Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.
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