Market Overview

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

Share:
Related
12 Biggest Mid-Day Gainers For Tuesday
Shutterstock Up 13% After Deal With Google Advertising Products
Apple, Alibaba Price Targets Hiked; Amazon Upgraded (Investor's Business Daily)

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
Sep 2016JefferiesMaintainsHold
Aug 2016Deutsche BankMaintainsHold
Aug 2016JefferiesMaintainsHold

View More Analyst Ratings for SSTK
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Initiation Analyst Ratings

 

Related Articles (SSTK)

View Comments and Join the Discussion!