|Over a week ago|
Shutterstock announces integration with Spirable » 09:0611/2411/24/20
Shutterstock announced an…
Shutterstock announced an integration with Spirable. Unlike traditional Media Asset Management platforms, Spirable is Dynamic Creative technology that enables users to create personalized, real-time video ads based on live and contextual data. The dynamic creative integration is the first of its kind for Shutterstock, allowing Shutterstock Premier users to search their library from within the Spirable platform, and then easily insert content directly into video projects. This removes workflow barriers for creatives who can now search for licensed Shutterstock assets seamlessly and produce branded videos designed to engage audiences at all stages of the buyer journey.
Shutterstock acquires Amper Music » 09:0311/1111/11/20
Shutterstock acquired certain assets from Amper Music,an AI-driven music platform which enables users to create and customize original music by leveraging over one million individual audio samples recorded by musicians on thousands of unique instruments. Terms of the transaction were not disclosed. Shutterstock's acquisition of Amper aims to strengthen its capabilities in artificial intelligence, particularly in content search and discovery of tracks composed by Shutterstock's community of artists as well as editing tools for Shutterstock users. As part of the transaction, Amper's employees will join the Shutterstock team. Amper's AI technology will provide Shutterstock users acceleration to their content creation workflow through a music discovery experience and editing capabilities. In addition, the acquisition will augment Shutterstock's R&D efforts to bring new innovations that enable content production for prosumers, businesses and professional content creators.
|Over a month ago|
Shutterstock price target raised to $75 from $60 at Truist » 07:5610/2810/28/20
Truist analyst Youssef…
Truist analyst Youssef Squali raised the firm's price target on Shutterstock to $75 from $60 and keeps a Buy rating on the shares. The analyst cites the company's Q3 beat on top and bottom lines, with the quarter demonstrating a faster rate of recovery in demand in both e-commerce and enterprise spending. Squali adds that Shutterstock's jump in profit margins was "impressive", reflecting material cost containment as revenue scales.
Shutterstock price target raised to $75 from $60 at Truist » 12:1510/2710/27/20
Truist analyst Youssef…
Truist analyst Youssef Squali raised the firm's price target on Shutterstock to $75 from $60 and keeps a Buy rating on the shares after the company's Q3 results beat on the top and bottom lines, showing "faster" recovery in demand for both ecommerce and enterprise. The analyst said that what was "more impressive" was the jump in profit margins, reflecting material cost containment as revenue scales. Squali added that while the bottom line benefited from lower utilization, AI and lower operating expense, management's "aggressive" reinvestment plans show a commitment to accelerating long-term growth.
Shutterstock price target raised to $88 from $65 at Needham » 12:1010/2710/27/20
Needham analyst Brad…
Needham analyst Brad Erickson raised the firm's price target on Shutterstock to $88 from $65 and keeps a Buy rating on the shares after the company's Q3 results and guidance reinforced his belief that the company's shift to subscription and ability to drive margin expansion are underappreciated. The analyst, who has raised his estimates following the quarterly report, remains a buyer of Shutterstock shares.
Shutterstock reports Q3 subscribers increased 39%, to 255,000 » 07:1410/2710/27/20
Reports Q3: Subscriber…
Reports Q3: Subscriber revenue increased 12% to $67.6 million. Average revenue per customer, increased 0.3% to $328. Paid downloads decreased 6% to 43.4 million. Revenue per download increased by $0.39 to $3.79. Image collection expanded 18% to approximately 350 million images. Footage collection expanded 25% to approximately 20 million clips.
Shutterstock reports Q3 adjusted EPS 80c, consensus 29c » 07:1310/2710/27/20
Reports Q3 revenue…
Reports Q3 revenue $165.2M, consensus $160.82M.
Fly Intel: Pre-market Movers » 09:5510/2310/23/20
SPCE, HQY, SJR, SSTK, PFE, MRK, LLY, BMY, ABBV
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Virgin Galactic (SPCE) initiated with a Neutral at Goldman Sachs. 2. HealthEquity (HQY) initiated with an Outperform at RBC Capital. 3. Shaw Communications (SJR) initiated with an Equal Weight at Morgan Stanley. 4. Shutterstock (SSTK) initiated with a Buy at Stifel. 5. Pfizer (PFE), Merck (MRK), Eli Lilly (LLY) and AbbVie (ABBV) all initiated with a Buy at Truist, while Bristol-Myers (BMY) initiated with a Hold at the firm. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Shutterstock initiated with a Buy at Stifel » 07:0510/2310/23/20
Stifel analyst John…
Stifel analyst John Egbert initiated coverage of Shutterstock with a Buy rating and $70 price target. He views the company as a leader in the stock media licensing space, which he sees having secular tailwinds from digital advertising, small businesses coming online, and streaming video adoption. He sees the stock offering investors steady growth and "dependable income at a reasonable multiple," Egbert added.
Shutterstock initiated with an Outperform at JMP Securities » 06:1910/2310/23/20
JMP Securities analyst…
JMP Securities analyst Ronald Josey initiated coverage of Shutterstock with an Outperform rating and $72 price target. The analyst is positive on the company's position as the largest marketplace for stock media, with "nearly 2M active customers, generating about 188M downloads from Shutterstock's library of 340M images, 19M videos, and thousands of music tracks" submitted by over 1.4M contributors. Josey adds that the management is "prioritizing industry levels of growth, margin expansion, and efficient capital allocation" in forecasting Shutterstock shares "compounding higher".