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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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February 9, 2016
08:37 EDTSSTKShutterstock announces exclusive global syndication deal with BFA
Shutterstock announced its exclusive global syndication deal with BFA, a leading lifestyle, fashion, art and entertainment content creation agency. Shutterstock Premier customers, which include some of the largest marketing communications companies and publishing houses in the world, will now be able to license BFA's images and video content from the most glamorous and prestigious events around the globe.

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