Shutterstock, Inc. (SSTK) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Shutterstock, Inc. (NYSE:SSTK) posted its earnings results on Tuesday. The business services provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01, Bloomberg Earnings reports. The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $133.24 million. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. Shutterstock’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share.

Shares of Shutterstock (SSTK) traded up 0.90% during trading on Wednesday, hitting $39.34. The company’s stock had a trading volume of 269,646 shares. The firm’s 50 day moving average price is $34.16 and its 200-day moving average price is $39.48. Shutterstock has a 52 week low of $29.85 and a 52 week high of $57.57. The company has a market cap of $1.36 billion, a PE ratio of 48.45 and a beta of 1.44.

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SSTK has been the topic of several recent analyst reports. TheStreet lowered Shutterstock from a “b-” rating to a “c” rating in a report on Friday, July 7th. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a report on Friday, August 25th. SunTrust Banks, Inc. initiated coverage on Shutterstock in a report on Tuesday, August 15th. They issued a “hold” rating and a $36.00 target price on the stock. BidaskClub lowered Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Deutsche Bank AG dropped their target price on Shutterstock from $41.00 to $33.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Shutterstock presently has a consensus rating of “Hold” and a consensus price target of $37.80.

About Shutterstock

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.

Earnings History for Shutterstock (NYSE:SSTK)

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