Where Shutterstock Stands With Analysts
Portfolio Pulse from Benzinga Insights
Shutterstock (NYSE:SSTK) has received mixed analyst ratings over the past quarter, with a shift towards a more bullish stance in the last 30 days. The average 12-month price target for SSTK has been adjusted to $61.25, down from $85.00, indicating a 27.94% decrease. Analysts from Needham, Truist Securities, and Morgan Stanley have provided updates, with price targets ranging from $55.00 to $70.00. Shutterstock's financial performance shows challenges, including a -6.87% revenue decline and below-industry averages in net margin, ROE, and ROA.
February 23, 2024 | 4:00 pm
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NEGATIVE IMPACT
Shutterstock has seen a recent shift towards more bullish analyst ratings, with a significant decrease in the average 12-month price target. Financial challenges include a revenue decline and lower profitability metrics.
The decrease in the average price target and the reported financial challenges, including a significant revenue decline and below-average profitability metrics, suggest a negative short-term impact on SSTK's stock price. The mixed analyst ratings, with a recent shift towards bullishness, may provide some support, but the overall financial health of the company appears to be a concern.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100