Jefferies Remains Sidelined on Shutterfly (SFLY) - PT to $52
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
- JPMorgan (JPM) Reports Q4 EPS of $1.71
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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."
Shares of Shutterfly Inc. closed at $42.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: RBC Capital Upgrades Colfax Corporation (CFX) to Outperform
- Wells Fargo Upgrades Tiffany & Co. (TIF) to Market Perform; Demand Trends Stabilizing
- Wedbush Raises Price Target on Wolverine World Wide (WWW) After Meeting with Management
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!