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Stock Market & Financial Investment News

News Breaks
February 21, 2014
12:33 EDTSSTKShutterstock soars to 52-week high after beating expectations
Shares of Shutterstock (SSTK), which are operates as a marketplace for commercial digital imagery, are soaring after the company’s fourth quarter results and fiscal 2014 revenue guidance surpassed expectations. WHAT'S NEW: Last night, Shutterstock reported Q4 earnings per share of 22c and revenue of $68M, compared to expectations of 21c and $65.86M, respectively. The company’s first quarter and fiscal 2014 revenue guidance topped expectations as well. For Q1, the company forecast revenue of $69M-$70M, compared to consensus of $67.73M. For FY14, revenue was seen at $305M-$310M, versus expectations of $304.5M. FY14 adjusted EBTIDA was forecast at $68M-$70M. ANALYST REACTION: This morning, research firm RBC Capital raised their price target on Shutterstock to $100 from $86, noting it viewed the company's Q4 results as strong. The firm reiterated an Outperform rating on the stock. Another firm, Cantor, also raised their price target on Shutterstock to $95 from $75, citing the company’s results and guidance. The firm kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, Shutterstock jumped $13.59, or 16.5%, to $96.10 on more than five times its average daily trading volume. Earlier in the session, the stock reached a 52-week high of $98.98. Over the past twelve months, the stock has gained approximately 240%
News For SSTK From The Last 14 Days
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June 23, 2015
07:01 EDTSSTKShutterstock partnership positive, says Cantor
After Shutterstock announced an exclusive partnership with PMC, the owner of several well known media brands such as Variety and Women's Wear Daily, Cantor thinks the deal shows that Shutterstock continues to innovate and gain market share. The firm notes that Shutterstock's competitor, Getty, previously had a partnership with PMC. Cantor keeps a $100 price target and Buy rating on Shutterstock.
June 22, 2015
05:46 EDTSSTKShutterstock and Penske Media form editorial imagery and video partnership
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June 17, 2015
08:36 EDTSSTKShutterstock shares oversold after Adobe offering unveiled, says RBC Capital
After Adobe (ADBE) announced its stock images offering, Adobe Stock, RBC Capital thinks that the pricing of the offering is less worse than feared for Shutterstock (SSTK). The firm reiterates an $86 price target and Outperform rating on Shutterstock.
07:11 EDTSSTKWorries about Shutterstock competition overdone, says Cantor
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June 16, 2015
11:46 EDTSSTKShutterstock slides after Adobe launches competing product
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