Brokerages predict that Shutterstock Inc (NYSE:SSTK) will announce sales of $150.17 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Shutterstock’s earnings, with estimates ranging from $146.18 million to $152.60 million. Shutterstock posted sales of $130.22 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The firm is expected to report its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Shutterstock will report full-year sales of $150.17 million for the current financial year, with estimates ranging from $629.01 million to $634.39 million. For the next year, analysts anticipate that the business will post sales of $700.16 million per share, with estimates ranging from $691.25 million to $706.86 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Shutterstock.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $151.80 million during the quarter, compared to the consensus estimate of $143.66 million. Shutterstock had a net margin of 3.00% and a return on equity of 8.43%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. ValuEngine cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Deutsche Bank lifted their price objective on shares of Shutterstock from $36.00 to $43.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Finally, SunTrust Banks lifted their price objective on shares of Shutterstock to $47.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $42.67.
A number of institutional investors have recently modified their holdings of the business. We Are One Seven LLC acquired a new stake in Shutterstock in the fourth quarter valued at approximately $243,000. MetLife Investment Advisors LLC acquired a new stake in Shutterstock in the fourth quarter valued at approximately $397,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in Shutterstock in the fourth quarter valued at approximately $2,951,000. Two Sigma Advisers LP boosted its position in Shutterstock by 13.3% in the fourth quarter. Two Sigma Advisers LP now owns 39,200 shares of the business services provider’s stock valued at $1,687,000 after buying an additional 4,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Shutterstock by 5.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 284,143 shares of the business services provider’s stock valued at $12,226,000 after buying an additional 15,021 shares in the last quarter. Hedge funds and other institutional investors own 58.91% of the company’s stock.
Shutterstock (NYSE:SSTK) opened at $51.97 on Friday. The stock has a market cap of $1,805.75, a P/E ratio of 72.18 and a beta of 1.33. Shutterstock has a one year low of $29.85 and a one year high of $52.78.
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.
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