Shutterstock (NYSE:SSTK) posted its quarterly earnings results on Tuesday. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02, Briefing.com reports. Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. The company had revenue of $161.74 million for the quarter, compared to analyst estimates of $171.93 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Shutterstock updated its FY 2019 guidance to EPS.
Shares of Shutterstock stock traded down $2.18 during trading hours on Tuesday, reaching $35.45. The stock had a trading volume of 150,965 shares, compared to its average volume of 167,093. The company’s 50 day simple moving average is $38.93. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 1.65 and a beta of 1.11. Shutterstock has a twelve month low of $31.77 and a twelve month high of $55.76.
Several research firms have commented on SSTK. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. ValuEngine downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, SunTrust Banks reiterated a “hold” rating and issued a $44.00 price objective on shares of Shutterstock in a research report on Monday.
Shutterstock Company Profile
Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.
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