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UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on Shutterstock on Solid Beat

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Shutterstock Attempting To Shrug Off Multiple Downgrades
Jefferies Issues Massive Downgrade On Shutterstock

In a report published Friday, Cantor Fitzgerald reiterated its Buy rating on Shutterstock (NYSE: SSTK), and raised its price target from $30.00 to $32.00.

Cantor Fitzgerald noted, “Strong execution amidst secular growth in demand for stock imagery is driving better than expected performance for Shutterstock across virtually all metrics. We view this trend as sustainable in the near/medium-term, given the company's improving competitive position and are reiterating our BUY rating. We're raising our PT to $32 from $30.”

Shutterstock closed on Thursday at $28.05.

Latest Ratings for SSTK

DateFirmActionFromTo
Aug 2015William BlairDowngradesOutperformMarket Perform
Aug 2015JefferiesDowngradesBuyHold
Aug 2015RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for SSTK
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Price Target Analyst Ratings

 

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