Shutterfly (SFLY) Takes Another Step in Mobile with Acquisition of Penguin
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Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Analysts Colin Sebastian at Baird said today he thinks Shutterfly's (Nasdaq: SFLY) acquisition of Penguin Digital should help to accelerate the company’s expansion on mobile and social platforms.
Penguin operates both a consumer app on iOS that allows users to create and purchase personalized photo products, and also a software tool that allows developers to sell photo and other related merchandise directly from within their apps.
While the terms of the acquisition were not disclosed, analysts said they believe the deal represents only a modest investment for Shutterfly.
Baird maintained their Outperform rating and $40 price target on Shutterfly.
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 $33.74 yesterday, with a 52 week range of $21.34-$55.23.
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Penguin operates both a consumer app on iOS that allows users to create and purchase personalized photo products, and also a software tool that allows developers to sell photo and other related merchandise directly from within their apps.
While the terms of the acquisition were not disclosed, analysts said they believe the deal represents only a modest investment for Shutterfly.
Baird maintained their Outperform rating and $40 price target on Shutterfly.
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 $33.74 yesterday, with a 52 week range of $21.34-$55.23.
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