Shutterfly (SFLY) Upgraded to “Strong-Buy” by BidaskClub

Shutterfly (NASDAQ:SFLY) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Several other brokerages have also recently weighed in on SFLY. Aegis reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Shutterfly in a report on Sunday, February 4th. Goldman Sachs cut Shutterfly from a “neutral” rating to a “sell” rating and set a $46.00 price objective for the company. in a report on Wednesday, January 17th. Zacks Investment Research cut Shutterfly from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. SunTrust Banks lifted their price objective on Shutterfly to $60.00 and gave the company a “buy” rating in a report on Friday, January 12th. Finally, Robert W. Baird lifted their price objective on Shutterfly to $85.00 and gave the company a “neutral” rating in a report on Friday, April 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Shutterfly presently has a consensus rating of “Hold” and a consensus target price of $61.57.

NASDAQ:SFLY opened at $82.68 on Friday. The company has a market cap of $2,719.77, a P/E ratio of 78.74 and a beta of 0.88. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Shutterfly has a 1-year low of $39.76 and a 1-year high of $86.41.

Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings data on Tuesday, January 30th. The technology company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.86 by $0.25. The firm had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $556.40 million. Shutterfly had a return on equity of 6.99% and a net margin of 2.53%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 EPS. equities research analysts forecast that Shutterfly will post 2.07 earnings per share for the current year.

Shutterfly declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 30th that allows the company to repurchase outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

In other news, CEO Christopher North sold 170,000 shares of Shutterfly stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.76, for a total value of $11,519,200.00. Following the transaction, the chief executive officer now owns 97,394 shares in the company, valued at approximately $6,599,417.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Swette sold 13,401 shares of Shutterfly stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $75.86, for a total value of $1,016,599.86. Following the completion of the transaction, the director now owns 25,260 shares in the company, valued at approximately $1,916,223.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,978 shares of company stock worth $21,319,154. Corporate insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Shutterfly by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,248,187 shares of the technology company’s stock valued at $60,512,000 after purchasing an additional 3,360 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Shutterfly by 9.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 877,093 shares of the technology company’s stock valued at $43,635,000 after purchasing an additional 75,573 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Shutterfly by 430.8% in the 4th quarter. Wells Fargo & Company MN now owns 395,028 shares of the technology company’s stock valued at $19,653,000 after purchasing an additional 320,604 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Shutterfly by 81.6% in the 4th quarter. Renaissance Technologies LLC now owns 333,400 shares of the technology company’s stock valued at $16,587,000 after purchasing an additional 149,800 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Shutterfly by 8.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 244,681 shares of the technology company’s stock valued at $12,173,000 after purchasing an additional 19,306 shares during the last quarter.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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