Shutterstock Raised to "Hold" at Zacks (SSTK)

Zacks upgraded shares of Shutterstock (NYSE:SSTK) from a sell rating to a hold rating in a research report sent to investors on Monday, MarketBeat reports.

According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “

In other news, CEO Jonathan Oringer acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $34.02 per share, for a total transaction of $3,402,000.00. Following the acquisition, the chief executive officer now directly owns 16,256,327 shares in the company, valued at $553,040,244.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Shutterstock (NYSE:SSTK) traded down 0.33% on Monday, hitting $30.14. The stock had a trading volume of 843,752 shares. The company has a 50-day moving average of $32.33 and a 200 day moving average of $54.95. Shutterstock has a 52 week low of $28.96 and a 52 week high of $84.06. The company has a market capitalization of $1.09 billion and a price-to-earnings ratio of 52.06.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $104.40 million for the quarter, compared to analyst estimates of $105.36 million. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities research analysts predict that Shutterstock will post $1.16 EPS for the current year.

SSTK has been the subject of several other reports. Cantor Fitzgerald reaffirmed a buy rating and set a $100.00 price target on shares of Shutterstock in a research report on Sunday, July 12th. Morgan Stanley started coverage on Shutterstock in a report on Tuesday, July 14th. They set an underweight rating and a $40.00 price objective for the company. Topeka Capital Markets assumed coverage on Shutterstock in a report on Thursday, May 28th. They issued a buy rating and a $92.00 price target for the company. Jefferies Group lowered Shutterstock from a buy rating to a hold rating and dropped their price objective for the company from $90.00 to $39.00 in a research note on Friday, August 7th. Finally, TheStreet downgraded Shutterstock from a hold rating to a sell rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $64.70.

Shutterstock, Inc. (NYSE:SSTK) runs a worldwide marketplace for commercial digital content, including images, video and music. The Organization ‘s commercial digital imagery consists of video clips and accredited photos, illustrations that companies use inside their visual communications, for example corporate communications, digital and print marketing materials, Websites, books, publications and video content while commercial music includes music tracks. The need for music and commercial digital vision comes from businesses, advertising services and media organizations. It reaches new customers through a set of marketing channels, including email marketing, print advertising, tradeshows, online display advertising, direct mail, affiliate marketing, public relations, social media and partnerships. The internet marketplace of the Company’s provides a freely searchable number of commercial digital imagery and music that download its users can pay to license and incorporate into their work.

To get a free copy of the research report on Shutterstock (SSTK), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com

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Shutterstock Raised to "Hold" at Zacks (SSTK)