Jefferies Remains Sidelined on Shutterfly (SFLY) - PT to $52

October 27, 2016 10:14 AM EDT
Get Alerts SFLY Hot Sheet
Price: $52.64 +0.29%

Rating Summary:
    9 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Jefferies maintained a Hold rating on Shutterfly Inc. (NASDAQ: SFLY), and cut the price target to $52.00 (from $55.00), following the company's 3Q earnings report. During 3Q SFLY completed two major steps in the integration of SFLY 3.0 including launching its all new mobile app and migrating its high use customers onto its photo management platform. Net revenue was $187MM vs.$184MM at the midpoint of guidance.

Analyst Brian Fitzgerald commented, "SFLY reported a nice 3Q in a seasonally slow Q. Core SFLY continues to grow double digits and SBS beat our/Street expectations. Focus turns to execution during the peak 4Q where SFLY generates ~50% of its annual revenue. A loyal customer base and vertical integration differentiates SFLY from peers."

For an analyst ratings summary and ratings history on Shutterfly Inc. click here. For more ratings news on Shutterfly Inc. click here.

Shares of Shutterfly Inc. closed at $42.07 yesterday.



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