According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
SSTK has been the subject of a number of other research reports. ValuEngine upgraded Shutterstock from a sell rating to a hold rating in a report on Monday, August 12th. SunTrust Banks restated a hold rating and set a $44.00 target price on shares of Shutterstock in a report on Monday, August 5th.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Shutterstock had a return on equity of 13.64% and a net margin of 5.19%. The firm had revenue of $161.74 million during the quarter, compared to the consensus estimate of $171.93 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Shutterstock will post 0.7 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its stake in Shutterstock by 29.4% in the third quarter. Pacer Advisors Inc. now owns 8,891 shares of the business services provider’s stock worth $321,000 after purchasing an additional 2,018 shares during the period. State of Alaska Department of Revenue grew its stake in Shutterstock by 130.5% in the third quarter. State of Alaska Department of Revenue now owns 14,641 shares of the business services provider’s stock worth $528,000 after purchasing an additional 8,288 shares during the period. Atria Investments LLC purchased a new stake in Shutterstock in the second quarter worth $2,981,000. Nuveen Asset Management LLC purchased a new stake in Shutterstock in the second quarter worth $3,365,000. Finally, UBS Asset Management Americas Inc. grew its stake in Shutterstock by 9.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,668 shares of the business services provider’s stock worth $614,000 after purchasing an additional 1,307 shares during the period. Institutional investors own 57.94% of the company’s stock.
Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.
Recommended Story: What is range trading?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.