Morgan Stanley Sees Good Things in the Future for Shutterstock

In a report published Wednesday, Morgan Stanley analyst Scott Devitt reiterated an Equal-Weight rating on Shutterstock SSTK. In the report, Morgan Stanley noted, “Jon Oringer, CEO and Tim Bixby, CFO presented at the 2014 Morgan Stanley Technology, Media and Telecom Conference. Mr. Oringer and Mr. Bixby discussed how Shutterstock disrupted the stock photography industry by entering at the base of the pyramid with a high-volume, low-cost microstock subscription model. Over the past few years, Shutterstock's offering has been rising up the pyramid with the launch of Offset at a much higher average price point and expansion into video and enterprise sales. Through these initiatives, Shutterstock has expanded its addressable market to support it growing into a much larger company over the long term.” Shutterstock closed on Tuesday at $99.63.