Shares of Shutterstock Ignore Bullish Comments From Wunderlich
Shares of Shutterstock (NYSE: SSTK) are not responding favorably to some bullish comments made by Wunderlich.
In the note, analyst Blake Harper said Shutterstock's growth could pick up should a potential deal for the company's images to be supplied to Facebook's advertisers.
Harper does not feel that Getty Images' move to offer millions of images free to download for non-commercial users will impact commercial customers. Getty is “maintaining its pricing for commercial customers,” the analyst said.
Harper reiterated his Buy rating and $92 price target on the stock.
Shares of Shutterstock are down 1.4 percent to $82.28. The shares have enjoyed an incredible march upwards after IPOing in the middle of 2012.
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