Shutterstock, Inc. (NYSE:SSTK) – Investment analysts at Truist Securiti increased their FY2022 earnings per share (EPS) estimates for Shutterstock in a note issued to investors on Wednesday, September 8th. Truist Securiti analyst Y. Squali now expects that the business services provider will post earnings per share of $2.60 for the year, up from their prior estimate of $2.50. Truist Securiti also issued estimates for Shutterstock’s FY2023 earnings at $3.16 EPS, FY2024 earnings at $3.82 EPS and FY2025 earnings at $4.50 EPS.
Several other research firms also recently commented on SSTK. Truist lifted their price target on shares of Shutterstock from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price target on shares of Shutterstock from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Truist Securities lifted their target price on shares of Shutterstock from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities lifted their target price on shares of Shutterstock from $110.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Finally, Zacks Investment Research raised shares of Shutterstock from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research note on Tuesday, August 3rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Shutterstock currently has an average rating of “Buy” and an average target price of $110.43.
SSTK stock opened at $113.73 on Thursday. The company has a market capitalization of $4.17 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. Shutterstock has a one year low of $47.97 and a one year high of $118.38. The company’s 50 day moving average price is $105.34 and its two-hundred day moving average price is $95.69. Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.62 by $0.40. The firm had revenue of $189.90 million for the quarter, compared to the consensus estimate of $179.45 million. Shutterstock had a net margin of 14.93% and a return on equity of 25.67%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 16th. Shareholders of record on Thursday, September 2nd will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Wednesday, September 1st. Shutterstock’s payout ratio is currently 41.58%.
In other Shutterstock news, Chairman Jonathan Oringer sold 28,378 shares of the business’s stock in a transaction on Thursday, July 8th. The shares were sold at an average price of $100.26, for a total transaction of $2,845,178.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 143,217 shares of company stock worth $15,044,673. Insiders own 37.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of SSTK. US Bancorp DE boosted its holdings in shares of Shutterstock by 197.6% during the 1st quarter. US Bancorp DE now owns 753 shares of the business services provider’s stock valued at $67,000 after buying an additional 500 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Shutterstock by 47.1% during the 1st quarter. Handelsbanken Fonder AB now owns 5,000 shares of the business services provider’s stock valued at $445,000 after buying an additional 1,600 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Shutterstock by 16.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 43,140 shares of the business services provider’s stock valued at $3,841,000 after buying an additional 6,163 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Shutterstock by 1.5% during the 1st quarter. Alliancebernstein L.P. now owns 29,291 shares of the business services provider’s stock valued at $2,608,000 after buying an additional 434 shares in the last quarter. Finally, Allred Capital Management LLC bought a new stake in shares of Shutterstock during the 1st quarter valued at $27,000. 54.19% of the stock is currently owned by institutional investors and hedge funds.
About Shutterstock
Shutterstock, Inc engages in the operation of marketplace for licensed content. The firm licenses images, video, music, editorial assets, and custom content tailored to a brand’s needs. It operates through the Content Business and Other Category segments. The Content segment consists of Bigstock, Music, and Editorial.