Analysts Set Shutterstock, Inc. (NYSE:SSTK) Target Price at $25.00

Shutterstock, Inc. (NYSE:SSTK) has earned an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.00.

A number of equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. Wall Street Zen downgraded Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research downgraded Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Monday, December 1st.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $18.90 on Friday. The firm has a market cap of $671.40 million, a price-to-earnings ratio of 11.25 and a beta of 1.27. The firm has a fifty day moving average price of $20.80 and a 200 day moving average price of $20.70. Shutterstock has a fifty-two week low of $14.35 and a fifty-two week high of $38.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.48). Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The company had revenue of $260.09 million during the quarter, compared to analysts’ expectations of $255.60 million. During the same quarter in the previous year, the firm earned $1.31 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Thursday, December 4th. Shutterstock’s dividend payout ratio is currently 78.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in Shutterstock by 25.6% during the 1st quarter. Invesco Ltd. now owns 127,740 shares of the business services provider’s stock valued at $2,380,000 after buying an additional 26,029 shares in the last quarter. Nuveen LLC bought a new stake in shares of Shutterstock during the first quarter valued at approximately $1,587,000. Hsbc Holdings PLC raised its stake in shares of Shutterstock by 113.2% during the first quarter. Hsbc Holdings PLC now owns 19,267 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 10,228 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Shutterstock in the first quarter valued at approximately $393,000. Finally, Steamboat Capital Partners LLC bought a new position in Shutterstock in the first quarter worth approximately $915,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.