RBC Capital Reiterates a Hold Rating on Shutterstock

By Carrie Williams

In a report released today, Andrew Bruckner from RBC Capital reiterated a Hold rating on Shutterstock (NYSE: SSTK), with a price target of $60. The company’s shares opened today at $47.90.

According to TipRanks.com, Bruckner is a 2-star analyst with an average return of -0.4% and a 42.9% success rate. Bruckner covers the Technology sector, focusing on stocks such as Quotient Technology Inc, Rubicon Technology, and Rubicon Project.

Currently, the analyst consensus on Shutterstock is Hold and the average price target is $56.67, representing a 18.3% upside.

In a report issued on October 31, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $60 price target.

The company has a one year high of $65.16 and a one year low of $25.44. Currently, Shutterstock has an average volume of 296.8K.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SSTK in relation to earlier this year. Most recently, in June 2016, Steven Berns, the CFO of SSTK sold 847 shares for a total of $36,675.

Shutterstock, Inc. is an innovative technology company. It operates an industry global marketplace for commercial digital imagery. The company’s Commercial digital imagery consists of licensed photographs, illustrations and videos that companies use in their visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications and video content. Its online marketplace provides a freely searchable library of commercial digital images that users can pay to license, download and incorporate into their work. Shutterstock was founded by Jonathan Oringer in 2003 and is headquartered in New York, NY.