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Fly News Breaks for November 5, 2019
SSTK
Nov 5, 2019 | 15:42 EDT
SunTrust analyst Youssef Squali maintained a Hold rating on Shutterstock, but raised his target price on shares to $38 from $36 following Q3 results he called "uninspiring." The analyst said the results reflect "continued struggles in Enterprise and negative growth in North America, while improving on Ecommerce and ROW." He also said that execution risk remains high and competition is strong. Squali added that he doesn't believe Shutterstock founder and CEO Jon Oringer is looking to go private at this time.
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