Shutterstock Inc (SSTK) was Reiterated by Deutsche Bank to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 56 from a previous price target of $42 . Deutsche Bank advised their investors in a research report released on Aug 9, 2016.
On the company’s financial health, Shutterstock Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.30. The company had revenue of $124.40 million for the quarter, compared to analysts expectations of $124.29 million. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Shutterstock Inc opened for trading at $58.53 and hit $58.59 on the upside on Monday, eventually ending the session at $58.28, with a gain of 1.50% or 0.86 points. The heightened volatility saw the trading volume jump to 3,85,094 shares. Company has a market cap of $2,041 M.
In a different news, on Jun 16, 2016, Steven Berns (Chief Financial Officer) sold 847 shares at $43.30 per share price. According to the SEC, on Mar 15, 2016, Catherine Ulrich (Chief Product Officer) sold 5,964 shares at $36.77 per share price. On Sep 10, 2015, Nicholas Flynn (SVP Enterprise Sales) sold 615 shares at $33.48 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.