$150.17 Million in Sales Expected for Shutterstock (SSTK) This Quarter

Wall Street analysts expect Shutterstock (NYSE:SSTK) to post sales of $150.17 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Shutterstock’s earnings, with estimates ranging from $146.18 million to $152.60 million. Shutterstock reported sales of $130.22 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The business is scheduled to issue its next earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Shutterstock will report full year sales of $631.61 million for the current financial year, with estimates ranging from $629.01 million to $634.39 million. For the next fiscal year, analysts expect that the business will post sales of $700.16 million per share, with estimates ranging from $691.25 million to $706.86 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Shutterstock.

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Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Shutterstock had a return on equity of 8.43% and a net margin of 3.00%. The business had revenue of $151.80 million for the quarter, compared to analysts’ expectations of $143.66 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year.

SSTK has been the topic of several research reports. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. ValuEngine raised Shutterstock from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Deutsche Bank increased their target price on Shutterstock from $36.00 to $43.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Finally, SunTrust Banks increased their target price on Shutterstock to $47.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.67.

A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its position in shares of Shutterstock by 18.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 91,718 shares of the business services provider’s stock worth $3,947,000 after acquiring an additional 14,544 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Shutterstock by 20.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,654 shares of the business services provider’s stock worth $754,000 after acquiring an additional 3,786 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of Shutterstock by 213.2% during the 4th quarter. Landscape Capital Management L.L.C. now owns 61,735 shares of the business services provider’s stock worth $2,656,000 after acquiring an additional 42,027 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Shutterstock during the 4th quarter worth about $1,033,000. Finally, Schroder Investment Management Group raised its position in shares of Shutterstock by 98.6% during the 4th quarter. Schroder Investment Management Group now owns 556,747 shares of the business services provider’s stock worth $23,956,000 after acquiring an additional 276,377 shares in the last quarter. 58.91% of the stock is currently owned by institutional investors.

SSTK traded up $0.51 during mid-day trading on Friday, hitting $51.17. 40,559 shares of the stock were exchanged, compared to its average volume of 284,337. Shutterstock has a 1-year low of $29.85 and a 1-year high of $52.78. The firm has a market cap of $1,753.28, a price-to-earnings ratio of 70.08 and a beta of 1.15.

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About Shutterstock

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 services comprising music tracks and sound effects that are used to complement digital imagery.

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