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SFLY

Shutterfly

$40.67

0.12 (0.30%)

17:45
04/04/19
04/04
17:45
04/04/19
17:45

Shutterfly: Michael Meek will step-down as president and CEO of Lifetouch unit

On March 29 the company entered into a transition agreement for transition services through October 15, with Michael Meek, who will be stepping down from his role as the President and Chief Executive Officer of Lifetouch to pursue other activities. The company has initiated efforts to identify a new President of Lifetouch. In January of 2018 Shutterfly announced a definitive agreement for Shutterfly to acquire privately-held Lifetouch for $825M in cash.

SFLY Shutterfly
$40.67

0.12 (0.30%)

02/04/19
02/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Yelp (YELP) initiated with a Buy at Goldman Sachs while Groupon (GRPN) was initiated with a Neutral, and Match Group (MTCH) and Shutterfly (SFLY) were initiated with a Sell. 2. eHealth (EHTH) initiated with an Outperform at Evercore ISI. 3. Okta (OKTA) initiated with an Equal Weight at Morgan Stanley. 4. Lonestar Resources (LONE) initiated with an Outperform at Cowen. 5. Kopin (KOPN) initiated with a Buy at Ladenburg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/19
BARD
02/06/19
NO CHANGE
Target $45
BARD
Neutral
Shutterfly near-term risks elevated, says Baird
Baird analyst Colin Sebastian said Shutterfly disappointed in its most important seasonal quarter. The analyst noted the consumer segment revenues were below guidance once again, and he believes there is increasing pressure on management to integrate LifeTouch with the core Shutterfly business through revenue synergies. He also said the pending departure of the company's CEO and the board's strategic review could distract from the company's current strategic direction. Sebastian maintained his Neutral rating and lowered his price target to $45 from $55 on Shutterfly shares.
02/06/19
RHCO
02/06/19
NO CHANGE
Target $55
RHCO
Buy
Shutterfly price target lowered to $55 from $70 at SunTrust
SunTrust analyst Youssef Squali lowered his price target on Shutterfly to $55 after its latest earnings miss. The analyst keeps his Buy rating on the shares however, noting that its announced strategic review committee formation and CEO departure are appropriate at this juncture, adding that its risk-reward profile of 6.5-times enterprise value to EBITDA is also "attractive".
02/06/19
AGIS
02/06/19
NO CHANGE
Target $55
AGIS
Buy
Shutterfly investors' 'best bet' is to hang on in hopes for deal, says Aegis
Aegis analyst Victor Anthony said Shutterfly had an "eventful" evening yesterday, as the company reported revenue and adjusted EBITDA that missed his estimates, gave guidance that also missed his and consensus estimates, pushed out its synergy targets, announced the departure of its CEO and announced it had been approached about a potential acquisition and is exploring alternatives. Anthony, who notes that he previously highlighted Shutterfly as a potential acquisition target or the target of activist investors, believes that "the best bet for investors is to hang onto the shares in anticipation of an acquirer stepping in." A financial buyer could pay $60 per share, while a strategic acquirer could pay $70 per share, believes Anthony, who has a Buy rating and $55 price target on Shutterfly shares.

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