Needham slashes price target on Shutterstock Inc. [SSTK] – find out why.

Shutterstock Inc. [NYSE: SSTK] slipped around -0.46 points on Wednesday, while shares priced at $48.43 at the close of the session, down -0.94%. The company report on August 12, 2020 that Shutterstock Announces Pricing of Public Offering of Common Stock.

Shutterstock, Inc. (NYSE: SSTK), a leading global technology company offering a creative platform for high-quality content, tools and services, today announced the pricing of its public offering of 2,580,000 shares of its common stock at a price to the public of $48.50 per share. Shutterstock is selling 516,000 shares of common stock in this offering, and Jon Oringer (Shutterstock’s Founder, Executive Chairman of the Board and largest stockholder) is selling 2,064,000 shares of common stock in this offering. In addition, Mr. Oringer granted the underwriters a 30-day option to purchase up to an additional 387,000 shares of common stock. The offering is expected to close on August 14, 2020, subject to the satisfaction of customary closing conditions.

Shutterstock intends to use the proceeds that it receives from the offering for general corporate purposes. Shutterstock will not receive any of the proceeds from the sale of shares sold by Mr. Oringer.

Shutterstock Inc. stock is now 12.94% up from its year-to-date (YTD) trading value. SSTK Stock saw the intraday high of $51.74 and lowest of $48.09 per share. The company’s 52-week high price is 59.45, which means current price is +68.39% above from all time high which was touched on 08/05/20.

Compared to the average trading volume of 273.22K shares, SSTK reached a trading volume of 2121004 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Shutterstock Inc. [SSTK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SSTK shares is $49.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SSTK stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Shutterstock Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 23, 2020. The new note on the price target was released on August 25, 2017, representing the official price target for Shutterstock Inc. stock. Previously, the target price had yet another raise to $36, while SunTrust analysts kept a Hold rating on SSTK stock.

The Average True Range (ATR) for Shutterstock Inc. is set at 2.68, with the Price to Sales ratio for SSTK stock in the period of the last 12 months amounting to 2.65. The Price to Book ratio for the last quarter was 5.03, with the Price to Cash per share for the same quarter was set at 8.81. Price to Free Cash Flow for SSTK in the course of the last twelve months was 31.79 with Quick ratio for the last quarter at 1.70.

How has SSTK stock performed recently?

Shutterstock Inc. [SSTK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.10. With this latest performance, SSTK shares gained by 32.21% in over the last four-week period, additionally plugging by 9.13% over the last 6 months – not to mention a rise of 37.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SSTK stock in for the last two-week period is set at 52.42, with the RSI for the last a single of trading hit 44.34, and the three-weeks RSI is set at 56.09 for Shutterstock Inc. [SSTK]. The present Moving Average for the last 50 days of trading for this stock 41.22, while it was recorded at 53.89 for the last single week of trading, and 39.88 for the last 200 days.

Shutterstock Inc. [SSTK]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Shutterstock Inc. [SSTK] shares currently have an operating margin of +3.10 and a Gross Margin at +55.78. Shutterstock Inc.’s Net Margin is presently recorded at +3.09.

Return on Total Capital for SSTK is now 6.00, given the latest momentum, and Return on Invested Capital for the company is 6.07. Return on Equity for this stock inclined to 6.54, with Return on Assets sitting at 3.46. When it comes to the capital structure of this company, Shutterstock Inc. [SSTK] has a Total Debt to Total Equity ratio set at 17.34. Additionally, SSTK Total Debt to Total Capital is recorded at 14.77, with Total Debt to Total Assets ending up at 9.02. Long-Term Debt to Equity for the company is recorded at 14.42, with the Long-Term Debt to Total Capital now at 12.29.

Reflecting on the efficiency of the workforce at the company, Shutterstock Inc. [SSTK] managed to generate an average of $18,018 per employee. Receivables Turnover for the company is 14.78 with a Total Asset Turnover recorded at a value of 1.12.Shutterstock Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Earnings analysis for Shutterstock Inc. [SSTK]

With the latest financial reports released by the company, Shutterstock Inc. posted 0.29/share EPS, while the average EPS was predicted by analysts to be reported at 0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 61.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SSTK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Shutterstock Inc. go to 19.00%.

Insider trade positions for Shutterstock Inc. [SSTK]

There are presently around $989 million, or 59.70% of SSTK stock, in the hands of institutional investors. The top three institutional holders of SSTK stocks are: BLACKROCK INC. with ownership of 2,764,624, which is approximately -3.746% of the company’s market cap and around 45.90% of the total institutional ownership; ARROWMARK COLORADO HOLDINGS LLC, holding 2,284,374 shares of the stock with an approximate value of $110.63 million in SSTK stocks shares; and VANGUARD GROUP INC, currently with $106.03 million in SSTK stock with ownership of nearly 1.546% of the company’s market capitalization.

Positions in Shutterstock Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 82 institutional holders increased their position in Shutterstock Inc. [NYSE:SSTK] by around 1,375,626 shares. Additionally, 62 investors decreased positions by around 2,684,428 shares, while 26 investors held positions by with 16,361,415 shares. The mentioned changes placed institutional holdings at 20,421,469 shares, according to the latest SEC report filing. SSTK stock had 22 new institutional investments in for a total of 409,553 shares, while 16 institutional investors sold positions of 415,650 shares during the same period.

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