Shutterstock (SSTK) Releases Earnings Results, Beats Estimates By $0.01 EPS

Shutterstock (NYSE:SSTK) posted its earnings results on Tuesday. The business services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01, MarketWatch Earnings reports. The firm had revenue of $151.60 million during the quarter, compared to the consensus estimate of $157.88 million. Shutterstock had a return on equity of 7.82% and a net margin of 6.54%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Shutterstock updated its FY 2018 guidance to EPS.

NYSE:SSTK opened at $39.01 on Wednesday. Shutterstock has a fifty-two week low of $36.35 and a fifty-two week high of $55.76. The firm has a market cap of $1.57 billion, a P/E ratio of 54.94, a P/E/G ratio of 2.61 and a beta of 1.24.

SSTK has been the subject of a number of research reports. SunTrust Banks reiterated a “hold” rating and set a $48.00 target price on shares of Shutterstock in a research report on Wednesday, August 1st. ValuEngine upgraded Shutterstock from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Jefferies Financial Group reiterated a “sell” rating and set a $44.00 target price on shares of Shutterstock in a research report on Thursday, August 2nd. Finally, Deutsche Bank increased their target price on Shutterstock from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.40.



In related news, Director Thomas R. Evans sold 10,000 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $51.18, for a total transaction of $511,800.00. Following the sale, the director now owns 24,591 shares in the company, valued at approximately $1,258,567.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Martin Brodbeck sold 4,813 shares of the stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total value of $246,329.34. Following the sale, the insider now owns 55,101 shares in the company, valued at approximately $2,820,069.18. The disclosure for this sale can be found here. Corporate insiders own 47.20% of the company’s stock.

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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Earnings History for Shutterstock (NYSE:SSTK)

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