Analysts Set Shutterstock PT at $65.63 (NYSE:SSTK)

Shutterstock (NYSE:SSTK) has been assigned an average rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $65.63.

Several analysts have commented on the company. Cantor Fitzgerald reduced their price objective on Shutterstock from $100.00 to $72.00 and set a “buy” rating on the stock in a research note on Sunday, August 9th. Jefferies Group lowered Shutterstock from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $39.00 in a research report on Friday, August 7th. Zacks raised Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, William Blair downgraded Shutterstock from an “outperform” rating to a “market perform” rating in a report on Friday, August 7th.

Shares of Shutterstock (NYSE:SSTK) traded up 1.01% during mid-day trading on Thursday, hitting $32.96. 360,070 shares of the stock traded hands. Shutterstock has a one year low of $28.96 and a one year high of $84.06. The company has a market cap of $1.19 billion and a P/E ratio of 56.93. The stock has a 50 day moving average price of $32.13 and a 200-day moving average price of $51.47.

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

In related news, CEO Jonathan Oringer bought 100,000 shares of Shutterstock stock in a transaction dated Friday, August 28th. The stock was acquired at an average cost of $34.02 per share, with a total value of $3,402,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 16,256,327 shares in the company, 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 this hyperlink.

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

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Analysts Set Shutterstock PT at $65.63 (NYSE:SSTK)