Analysts Set Shutterstock Target Price at $65.63 (NYSE:SSTK)

Shares of Shutterstock (NYSE:SSTK) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, Analyst Ratings.Net reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $65.63.

Shutterstock (NYSE:SSTK) traded down 0.70% on Wednesday, hitting $31.24. 435,129 shares of the stock were exchanged. The company has a 50-day moving average price of $34.69 and a 200-day moving average price of $55.74. Shutterstock has a 52-week low of $28.96 and a 52-week high of $84.06. The firm has a market cap of $1.13 billion and a PE ratio of 53.96.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The firm earned $104.40 million during the quarter, compared to the consensus estimate of $105.36 million. The company’s revenue was up 30.1% on a year-over-year basis. On average, equities research analysts anticipate that Shutterstock will post $1.16 EPS for the current fiscal year.

In other Shutterstock news, CEO Jonathan Oringer acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $34.02 per share, with a total value of $3,402,000.00. Following the completion of the transaction, the chief executive officer now directly owns 16,256,327 shares of the company’s stock, valued at approximately $553,040,244.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of equities research analysts recently issued reports on SSTK shares. Zacks raised Shutterstock from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Cantor Fitzgerald reissued a “buy” rating and set a $100.00 price objective on shares of Shutterstock in a report on Sunday, July 12th. Morgan Stanley began coverage on Shutterstock in a research note on Tuesday, July 14th. They issued an “underweight” rating and a $40.00 target price for the company. Topeka Capital Markets initiated coverage on Shutterstock in a research report on Thursday, May 28th. They issued a “buy” rating and a $92.00 price objective for the company. Finally, Jefferies Group downgraded Shutterstock from a “buy” rating to a “hold” rating and decreased their target price for the company from $90.00 to $39.00 in a report on Friday, August 7th.

Shutterstock, Inc. (NYSE:SSTK) operates a global marketplace for commercial digital content, including images, video and music. The Company’s commercial digital imagery consists of licensed photographs, illustrations and video clips that companies use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content while commercial music consists of music tracks. The demand for commercial digital imagery and music comes from businesses, marketing agencies and media organizations. It reaches new customers through a set of marketing channels, including online display advertising, print advertising, tradeshows, email marketing, direct mail, affiliate marketing, public relations, social media and partnerships. The Company’s online marketplace provides a freely searchable collection of commercial digital imagery and music that its users can pay to license, download and incorporate into their work.

Receive News & Ratings for Shutterstock Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Shutterstock and related companies with MarketBeat.com’s FREE daily email newsletter.

Analysts Set Shutterstock Target Price at $65.63 (NYSE:SSTK)