Shutterstock Earns "Sector Perform" Rating from RBC Capital (SSTK)

RBC Capital reaffirmed their sector perform rating on shares of Shutterstock (NYSE:SSTK) in a research note issued to investors on Wednesday morning, Market Beat.com reports. The brokerage currently has a $38.00 target price on the stock.

In related news, CEO Jonathan Oringer purchased 100,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $34.02 per share, with a total value of $3,402,000.00. Following the completion of the purchase, the chief executive officer now owns 16,256,327 shares in the company, valued at approximately $553,040,244.54. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Shutterstock (NYSE:SSTK) traded up 5.80% during midday trading on Wednesday, reaching $37.78. The company’s stock had a trading volume of 2,565,694 shares. The company has a 50-day moving average price of $31.08 and a 200-day moving average price of $46.30. Shutterstock has a 12 month low of $27.50 and a 12 month high of $84.06. The firm has a market cap of $1.36 billion and a price-to-earnings ratio of 70.09.

Shutterstock (NYSE:SSTK) last issued its earnings results on Thursday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $107.30 million for the quarter, compared to the consensus estimate of $106.46 million. During the same quarter last year, the business posted $0.26 EPS. Shutterstock’s quarterly revenue was up 28.2% on a year-over-year basis. Equities analysts expect that Shutterstock will post $1.15 earnings per share for the current year.

SSTK has been the topic of several other research reports. Cantor Fitzgerald reissued a buy rating and issued a $72.00 target price on shares of Shutterstock in a research report on Friday, September 25th. Morgan Stanley assumed coverage on Shutterstock in a research report on Tuesday, July 14th. They set an underweight rating and a $40.00 Zacks upgraded Shutterstock from a sell rating to a hold rating in a research note on Wednesday, October 7th. Finally, Jefferies Group downgraded Shutterstock from a buy rating to a hold rating and cut their target price for the company from $90.00 to $39.00 in a research report on Friday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Shutterstock presently has a consensus rating of Hold and a consensus price target of $61.50.

Shutterstock, Inc. (NYSE:SSTK) runs a worldwide marketplace for commercial digital content, including pictures, video and music. The Company’s commercial digital vision consists of video clips and licensed photos, illustrations that firms use inside their visual communications, such as Websites, digital and print marketing materials, corporate communications, novels, publications and video content while commercial music contains music tracks. The interest in commercial digital vision and music comes from media organizations and companies, marketing agencies. It reaches new customers through a group of marketing channels, including tradeshows, print advertising, online display advertising, email marketing, direct mail, internet affiliate marketing, public relations, social media and partnerships. The Organization ‘s online market provides a searchable number of music and commercial digital imagery that download its users can pay to license and incorporate in their work.

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Shutterstock Earns "Sector Perform" Rating from RBC Capital (SSTK)