Shutterfly (SFLY) Weakness an Overreaction - Baird
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Baird analyst Colin Sebastian weighed in on Shutterfly Inc. (NASDAQ: SFLY) on news of Amazon Prints, a digital photo printing service that offers standard digital printing, photo books, and eventually will expand to stationary and calendar.
Sebastian notes while Shutterfly's brand provides some competitive insulation, the Amazon announcement comes on the heels of Google Photos rumored expansion into physical printing, and dredges up old concerns around competitive pressure from large-scale platforms (e.g., Apple Photo books a long-time, but small-scale competitor; potential Facebook photo monetization).
He said while they believe today's stock move is an overreaction, Amazon's technology sophistication should not be completely discounted.
"We would be buyers on today's weakness, assuming Amazon's photo offering is geared toward augmenting Prime/Drive value vs. disrupting the photo book market," the analyst commentd.
The firm maintained an Outperform rating and price target of $59.00
Shares of Shutterfly Inc. closed at $50.48 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cantor Fitzgerald Defends Corbus Pharmaceuticals (CRBP) Following Short Report
- Mylan (MYL) Gains on Generic Concerta Approval
- Piper Jaffray Recommends Buying Under Armour (UA) on This Morning's Weakness
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Trader Talk
Related EntitiesRobert W Baird
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!