Shutterstock Inc (SSTK) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.29. The company posted revenue of $116.70 million in the period, compared to analysts expectations of $115.85 million. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.
Many Wall Street Analysts have commented on Shutterstock Inc. Shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 35 from a previous price target of $38 .
Shutterstock Inc opened for trading at $41.37 and hit $42.295 on the upside on Monday, eventually ending the session at $41.75, with a gain of 1.78% or 0.73 points. The heightened volatility saw the trading volume jump to 2,18,804 shares. Company has a market cap of $1,473 M.
In a different news, on Mar 15, 2016, Catherine Ulrich (Chief Product Officer) sold 5,964 shares at $36.77 per share price. According to the SEC, on Sep 10, 2015, Nicholas Flynn (SVP Enterprise Sales) sold 615 shares at $33.48 per share price. On Aug 28, 2015, Jonathan Oringer (CEO) purchased 100,000 shares at $34.02 per share price, according to the Form-4 filing with the securities and exchange commission.
Shutterstock Inc. (Shutterstock) operates a global marketplace for commercial digital content including images video and music. The Company’s commercial digital imagery consists of licensed photographs illustrations and video clips that companies use in their visual communications such as Websites digital and print marketing materials corporate communications books publications and video content while commercial music consists of music tracks. The demand for commercial digital imagery and music comes from businesses marketing agencies and media organizations. It reaches new customers through a set of marketing channels including online display advertising print advertising tradeshows email marketing direct mail affiliate marketing public relations social media and partnerships. The Company’s online marketplace provides a freely searchable collection of commercial digital imagery and music that its users can pay to license download and incorporate into their work.