Shutterstock Receives $65.63 Consensus PT from Brokerages (NYSE:SSTK)

Shutterstock (NYSE:SSTK) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the stock, Market Beat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $65.63.

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $72.00 target price on shares of Shutterstock in a research note on Friday, September 25th. Zacks raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research note on Monday, August 24th. Morgan Stanley started coverage on shares of Shutterstock in a report on Tuesday, July 14th. They issued an “underweight” rating and a $40.00 target price for the company. Finally, TheStreet downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, August 7th.

In other Shutterstock news, CEO Jonathan Oringer purchased 100,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were purchased at an average cost of $32.56 per share, with a total value of $3,256,000.00. Following the completion of the purchase, the chief executive officer now owns 16,156,327 shares of the company’s stock, valued at approximately $526,050,007.12. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Shutterstock (NYSE:SSTK) traded up 1.09% during trading on Friday, hitting $28.71. 854,683 shares of the stock were exchanged. The stock has a market cap of $1.03 billion and a P/E ratio of 49.59. Shutterstock has a 52 week low of $27.50 and a 52 week high of $84.06. The firm’s 50 day moving average price is $30.93 and its 200-day moving average price is $47.35.

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

Shutterstock, Inc. (NYSE:SSTK) manages a world-wide marketplace for commercial digital content, including images, video and music. The Company’s commercial digital imagery includes video clips and authorized photos, illustrations that companies use in their own visual communications, including corporate communications, digital and print marketing materials, Websites, books, publications and video content while commercial music contains music tracks. The demand for commercial digital imagery and music comes from businesses, advertising services and media organizations. It reaches new customers via a set of marketing channels, including direct mail, print advertising, tradeshows, email marketing, on-line display advertising, affiliate marketing online, public relations, social media and ventures. The Company’s internet market provides a searchable number of commercial digital imagery and music that download, its users can pay to license and incorporate in their work.

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Shutterstock Receives $65.63 Consensus PT from Brokerages (NYSE:SSTK)