Shutterfly (SFLY) Given New $60.00 Price Target at SunTrust Banks

Shutterfly (NASDAQ:SFLY) had its price target hoisted by SunTrust Banks to $60.00 in a research report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. SunTrust Banks’ target price indicates a potential upside of 14.55% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Aegis reaffirmed a “buy” rating and issued a $57.00 target price on shares of Shutterfly in a research report on Wednesday, December 27th. ValuEngine raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Zacks Investment Research raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Goldman Sachs Group reissued a “neutral” rating and set a $47.00 price objective on shares of Shutterfly in a research report on Wednesday, October 11th. Finally, BidaskClub raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.00.

Shutterfly (NASDAQ:SFLY) traded up $0.12 during trading hours on Friday, hitting $52.38. 537,100 shares of the stock were exchanged, compared to its average volume of 740,200. The stock has a market cap of $1,720.00, a P/E ratio of -1,047.60 and a beta of 0.84. Shutterfly has a 12-month low of $39.76 and a 12-month high of $53.99.

Shutterfly (NASDAQ:SFLY) last released its earnings results on Tuesday, October 24th. The technology company reported ($0.78) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.01. The firm had revenue of $195.44 million for the quarter, compared to the consensus estimate of $191.65 million. Shutterfly had a net margin of 0.81% and a return on equity of 4.66%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.86) EPS. analysts predict that Shutterfly will post 0.45 earnings per share for the current fiscal year.

In related news, SVP Ishantha Lokuge sold 2,838 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $48.27, for a total value of $136,990.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lisa Blackwood-Kapral sold 719 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $40.78, for a total transaction of $29,320.82. Following the completion of the sale, the chief accounting officer now directly owns 1,900 shares of the company’s stock, valued at $77,482. The disclosure for this sale can be found here. Insiders sold a total of 71,003 shares of company stock worth $3,060,675 in the last quarter. Company insiders own 0.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Shutterfly by 4.0% in the 2nd quarter. State Street Corp now owns 979,974 shares of the technology company’s stock worth $46,554,000 after acquiring an additional 37,889 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in Shutterfly by 33.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 578,988 shares of the technology company’s stock worth $28,069,000 after acquiring an additional 146,055 shares in the last quarter. Bamco Inc. NY purchased a new stake in Shutterfly in the 3rd quarter worth approximately $36,360,000. Bank of Nova Scotia purchased a new stake in Shutterfly in the 2nd quarter worth approximately $1,188,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Shutterfly by 8.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 225,375 shares of the technology company’s stock worth $10,927,000 after acquiring an additional 18,114 shares in the last quarter.

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Shutterfly Company Profile

Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.

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