Analysts Set Shutterstock Inc (NYSE:SSTK) Price Target at $60.63

Shutterstock Inc (NYSE:SSTK) has received an average recommendation of “Hold” from the eleven ratings firms that are covering the firm, AnalystRatings.Net reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $60.63.

A number of brokerages have issued reports on SSTK. Cantor Fitzgerald reiterated a “buy” rating and set a $72.00 price objective on shares of Shutterstock in a research note on Friday, September 25th. Deutsche Bank reiterated a “hold” rating and set a $39.00 price objective (down previously from $40.00) on shares of Shutterstock in a research note on Friday, November 6th. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Monday, September 7th. TheStreet upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Friday, October 16th. Finally, RBC Capital reiterated a “sector perform” rating and set a $38.00 price objective on shares of Shutterstock in a research note on Friday, December 4th.

Shutterstock (NYSE:SSTK) opened at 31.47 on Thursday. The stock has a market cap of $1.14 billion and a PE ratio of 58.39. The stock’s 50 day moving average price is $34.11 and its 200-day moving average price is $40.52. Shutterstock has a 12 month low of $27.50 and a 12 month high of $74.30.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. During the same quarter in the previous year, the firm posted $0.26 EPS. The company had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $106.46 million. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. Analysts anticipate that Shutterstock will post $1.15 EPS for the current fiscal year.

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.

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Analysts Set Shutterstock Inc (NYSE:SSTK) Price Target at $60.63

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)

Is your online marketing scattergun or on target?

One of my favourite clients owns a well-established restaurant.  However, despite their considerable restaurant experience, they have found themselves requiring a hefty amount of marketing assistance to appeal to newer audiences.

When I came along, their menu of promotional tactics was something of a – dare I say, dog’s breakfast.

Yes, they’d invested in many of the right areas – publicity, website, Facebook marketing and so on.  The problem was that the investment wasn’t being allocated correctly and the execution was poor.

They had spent way too much on publicity, had their radio ads on the wrong station and had hired an amateurish digital marketer.

So by the time I got to them, it really was a case of getting their all their marketing ducks lined up prior to firing a shot at their market.

Urgent marketing action required

 

The problem was, their previous promotions has failed them so badly, they needed some promotional hooks out there whilst we got their house in order.

In marketing terms, this is a bit like actors going on stage with the previous play’s scenery.  The lines come out but they don’t make a lot of sense.

While some of these unplanned tactics can make a difference, a good digital marketer knows that it will never be as good as a campaign that is carefully thought out, prepared and executed.

Don’t be too trigger-happy

A promotional message needs to be carefully thought out with care taken to ensure it reaches all of your available market prior to rolling out the next one.

One of the side effects of having so much direct access to our digital communications tools is that few smaller businesses resist the temptation to create yet another message on, say, Facebook when it hasn’t been properly rolled out to markets in other ways such as the website, email and so on.

 For my client, in a perfect world, a full marketing plan would have been written for the year.  However, the need for quick results meant skipping straight to the promotional plan.

 As a guide, here’s how it should have evolved. 

1. Objectives

In short, what we are trying to achieve, who are we pitching to and what is the desired result.  How will you ‘position’ your product in the marketplace, e.g. is it discount, middle, premium etc

 

2. Budget

 

Many have the budget allocated much later in the planning stages but by setting it out upfront, it helps eliminate promotional tactics that are financially out of reach.

3. Tactic selection

 

Based on experience and an evaluation of available means, create a wish list of promotional tactics and narrow it down to be the most practical and affordable within the period of time.

 

4. Creative Development

 

Identify the core messages you wish to convey and the ‘image’ you want for your brand.  Create a plan for the various creative components you need, who is going to create them and when.

5. Integration

 

How will different promotional tactics dovetail into others?   For example, a blog piece can be published on your website and onto third party websites, be emailed to your list and promoted via social media.

6. Action plan

 

Once tactics have been identified and creative put in place, create a list of higher level actions broken down into tasks, responsibilities and deadlines.

7. Calendar of promotional activities

 

Draw up your calendar of what promotional pieces go out at different times during the year.  Given the style and nature of social media, this can drill right down to daily planning – even setting the specific time it should be distributed.

8. Other Preparation

 

What other aspects need to be prepared?  For example, is your website in good enough shape to withstand the constant addition of different promotional and informational messages?  Do you have enough resources to co-ordinate the various requirements of your campaign?

9. Execute

Once all is in place, you can start to roll out each aspect of your promotional campaign. 

10. Monitor and improve

 

None of your promotional campaign can afford to be ‘set and forget’ these days.  Each component needs to be monitored to ensure effectiveness in converting to sales.  The beauty of digital media is that it can be changed quickly if required.

11. Review and Start Over

 

It’s important to set an end point for your campaign so as to properly assess its importance and collate lessons for future campaigns.  You will have learnt a lot along the way so it’s a great idea to take stock of how different tactics stacked up against their objectives and identify how each can be improved or dispensed with altogether.

There will be many variations on this approach but these steps provide a good basis for most smaller businesses.  Of course, if you don’t have the skills or time to create such a plan, there are plenty of affordable providers ready and willing to assist.

 Now, all I need is to manage to get some time out from executing my client’s immediate plan to go back and get their fundamental planning in place.

In addition to being a leading eBusiness educator to the smaller business sector, Craig Reardon is the founder and director of independent web services firm The E Team which was established to address the special website and web marketing needs of SMEs in Melbourne and beyond.

 

Is your online marketing scattergun or on target?