Shutterstock, Inc. (NYSE:SSTK – Get Free Report)’s stock price reached a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $58.00 to $50.00. Morgan Stanley currently has an equal weight rating on the stock. Shutterstock traded as low as $30.18 and last traded at $30.47, with a volume of 7557 shares trading hands. The stock had previously closed at $30.34.
SSTK has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Shutterstock in a report on Tuesday, August 6th. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st.
Read Our Latest Report on SSTK
Institutional Trading of Shutterstock
Shutterstock Stock Up 1.0 %
The firm’s 50 day simple moving average is $33.67 and its 200 day simple moving average is $37.67. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 22.74 and a beta of 1.09.
Shutterstock (NYSE:SSTK – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). The business had revenue of $220.05 million for the quarter, compared to analyst estimates of $213.44 million. Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. Shutterstock’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. Analysts anticipate that Shutterstock, Inc. will post 2.99 EPS for the current fiscal year.
About Shutterstock
Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.
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