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UPDATE: Jefferies & Company Initiates Coverage on Shutterstock with Buy Rating, $30 PT

In a report published Monday, Jefferies & Company initiated coverage on Shutterstock (NYSE: SSTK) with a Buy rating and $30.00 price target.

Jefferies noted, “We are initiating on SSTK with a Buy rating and $30 PT. Shutterstock has a highly disruptive business model in what is a large market opportunity with secular tailwinds. SSTK has the largest database of royalty-free images among peers, creating a virtuous, network effect that drives LT growth. Jefferies acted as a Joint Bookrunner in Shutterstock's October IPO.”

Shutterstock closed on Friday at $24.82.

Latest Ratings for SSTK

DateFirmActionFromTo
Aug 2014JefferiesMaintainsBuy
Aug 2014JP MorganMaintainsHold
Dec 2013WunderlichInitiates Coverage onBuy

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Posted-In: Jefferies & CompanyAnalyst Color Initiation Analyst Ratings

 

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