Cantor Fitzgerald Starts Shutterstock (SSTK) at Buy

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Cantor Fitzgerald initiates coverage on Shutterstock (NYSE: SSTK) with a Buy. PT $30.00.

The firm comments, "Our favorable recommendation reflects a) competitive advantages for SSTK's platform resulting from scale and network effects, b) very healthy double-digit top- line growth aided by high rate of revenue retention, and c) potential for further leverage/margin expansion, over time... Material growth in websites and web content, coupled with increased consumption of imagery in creatives, are some of the factors driving the strong demand for commercial stock images. We peg the company's revenue CAGR at 15-20% over the next five years with a total addressable market of $3.2-5.5B."

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

Shares of Shutterstock closed at $26.59 yesterday, with a 52 week range of $21.00-$28.63.

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