UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT on Shutterstock on Solid Beat
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
|Jul 2015||Morgan Stanley||Initiates Coverage on||Underweight|
|Jun 2015||RBC Capital||Maintains||Outperform|
|May 2015||Topeka Capital||Initiates Coverage on||Buy|
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