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Shares of Shutterstock Ignore Bullish Comments From Wunderlich

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

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.

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: Blake Harper WunderlichAnalyst Color Reiteration Analyst Ratings

 

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