Deutsche Bank Maintains Shutterstock Inc to Hold with Price Target $56.00

Brokerage firm Deutsche Bank Maintains its rating on Shutterstock Inc(NYSE:SSTK). In a research note issued to the investors, the brokerage major Raises the price-target to $56.00 per share. The shares have been rated Hold. The rating by Deutsche Bank was issued on Aug 9, 2016.

In a different note, Loop Capital said it Initiates Coverage on Shutterstock Inc, according to a research note issued on Aug 5, 2016. The shares have been rated ‘Hold’ by the firm. On Aug 5, 2016, Jefferies said it Maintains its rating on Shutterstock Inc. In the research note, the firm Raises the price-target to $50.00 per share. The shares have been rated ‘Hold’ by the firm. On Aug 4, 2016, Cantor Fitzgerald said it Downgrades its rating on Shutterstock Inc. The shares have been rated ‘Hold’ by the firm.

Shutterstock Inc (SSTK) shares turned negative on Wednesdays trading session with the shares closing down -0.27 points or -0.44% at a volume of 2,71,288. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $61.33. The peak price level was also seen at $61.33 while the days lowest was $59.89. Finally the shares closed at $60.83. The 52-week high of the shares is $61.995 while the 52-week low is $25.44. According to the latest information available, the market cap of the company is $2,130 M.

Shutterstock Inc(SSTK) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $124.42M. Analysts had an estimated revenue of $124.29M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.31.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Steven Berns (Chief Financial Officer) sold 847 shares at $43.30 per share price.Also, 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.

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