Shutterstock shares are trading lower after Needham maintained a Buy rating on the stock but lowered its price target from $76 to $60.
Portfolio Pulse from Benzinga Newsdesk
Shutterstock's shares are trading lower after Needham maintained a Buy rating on the stock but lowered its price target from $76 to $60.
November 01, 2023 | 7:37 pm
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NEGATIVE IMPACT
Shutterstock's stock price is trading lower after Needham maintained a Buy rating but lowered its price target from $76 to $60.
The news directly impacts Shutterstock as it is about a change in the price target set by Needham. The lowering of the price target can lead to a decrease in investor confidence, which can result in a lower stock price. Hence, the negative score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100