Fintel reports that on May 24, 2023, JMP Securities maintained coverage of Shutterstock (NYSE:SSTK) with a Market Perform recommendation.
Analyst Price Forecast Suggests 69.78% Upside
As of May 11, 2023, the average one-year price target for Shutterstock is 90.27. The forecasts range from a low of 88.88 to a high of $94.50. The average price target represents an increase of 69.78% from its latest reported closing price of 53.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Shutterstock is 848MM, an increase of 0.49%. The projected annual non-GAAP EPS is 3.59.
Shutterstock Declares $0.27 Dividend
On April 18, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023. Previously, the company paid $0.27 per share.
At the current share price of $53.17 / share, the stock's dividend yield is 2.03%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.76%, the lowest has been 0.67%, and the highest has been 3.32%. The standard deviation of yields is 0.73 (n=237).
The current dividend yield is 0.37 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.59%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 563 funds or institutions reporting positions in Shutterstock. This is an increase of 24 owner(s) or 4.45% in the last quarter. Average portfolio weight of all funds dedicated to SSTK is 0.18%, an increase of 16.74%. Total shares owned by institutions decreased in the last three months by 0.29% to 30,674K shares. 
The put/call ratio of SSTK is 2.76, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,778K shares representing 4.93% ownership of the company. In it's prior filing, the firm reported owning 1,758K shares, representing an increase of 1.16%. The firm decreased its portfolio allocation in SSTK by 3.28% over the last quarter.
Macquarie Group holds 1,618K shares representing 4.49% ownership of the company. In it's prior filing, the firm reported owning 1,364K shares, representing an increase of 15.68%. The firm increased its portfolio allocation in SSTK by 26.95% over the last quarter.
WMGRX - Ivy Mid Cap Growth Fund Class R holds 1,004K shares representing 2.79% ownership of the company. No change in the last quarter.
Copeland Capital Management holds 977K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 983K shares, representing a decrease of 0.61%. The firm increased its portfolio allocation in SSTK by 122,015.40% over the last quarter.
Renaissance Technologies holds 933K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 837K shares, representing an increase of 10.37%. The firm increased its portfolio allocation in SSTK by 49.03% over the last quarter.
Shutterstock Background Information
(This description is provided by the company.)
Shutterstock, Inc. (NYSE: SSTK), directly and through its group subsidiaries, is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 1 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 350 million images and more than 20 million video clips available. Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The company's brands also include Bigstock, a value-oriented stock media offering; Shutterstock Custom, a custom content creation platform; Offset, a high-end image collection; PremiumBeat, a curated royalty-free music library; and Shutterstock Editorial, a premier source of editorial images and videos for the world's media.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
