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Wunderlich Securities Believes Library Growth Should Support Q3 Estimates For Shutterstock Inc

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In a report published Tuesday, Wunderlich Securities analyst Blake T. Harper reiterated a Buy rating and $92.00 price target on Shutterstock Inc (NYSE: SSTK).

In the report, Wunderlich Securities noted, “Shutterstock, Inc. (SSTK) has added 3.8 million images to its library by 9/29/14, which compares to our estimate for the company to add 3 million for Q3. Given the correlation between the images in the collection and the number of paid downloads, we believe the company is tracking above our estimate to increase its paid downloads by 1.1 million to 32.6 million total for the quarter. The company has also added over 0.2 million videos to its collection, in line with our estimate to add 0.2 million for the quarter. We believe the company is executing well and attracting more contributors and marketers to the marketplace. We reiterate our Buy rating and $92 price target.”

Shutterstock Inc closed on Monday at $73.39.

Latest Ratings for SSTK

DateFirmActionFromTo
Oct 2018MaintainsHoldHold
Aug 2018MaintainsHoldHold
Feb 2018MaintainsHoldHold

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Posted-In: Blake T. Harper Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings

 

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