In a report published Monday, 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) shares have risen almost 12% in the past two trading days and we believe the stronger competitive position of the company is being weighted more than the fear of market share losses to Getty Images or an integrated Adobe-Fotolia (ADBE-NR). Getty's CEO stepped down on Friday after the company reported sales in its midstock segment, where it primarily competes with Shutterstock, had declined 17% y/y in Q4. We view the potential for elevated competition from a combined Adobe (ADBE-NR) and Fotolia to be more difficult than presumed for Adobe. Shutterstock also reiterated its long-term financial targets of $1 billion+ in sales and 30%+ in EBITDA margins at its recent Investor Day and should be able to post longer term 20%+ y/y revenue growth."
Shutterstock closed on Friday at $64.50.
Latest Ratings for SSTK
| Feb 2015 | Jefferies | Maintains | Buy | |
| Feb 2015 | Deutsche Bank | Maintains | Hold | |
| Aug 2014 | Jefferies | Maintains | Buy |
View More Analyst Ratings for SSTK
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