Baird Reiterates an 'Outperform' on Shutterfly Inc. (SFLY); Raising Numbers on Picture Perfect Q1
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Price: $50.97 --0%
Rating Summary:
4 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Baird reiterates an 'Outperform' on Shutterfly Inc. (NASDAQ: SFLY) price target raised from $32 to $40.
Analyst, Colin Sebastian, said, "Results comfortably ahead of conservative guidance. Q1 results were nicely above our expectations as Shutterfly was better prepared to handle competitor promotions in Q1. In the face of ongoing pricing headwinds, we believe Shutterfly’s core business accelerated, Tiny Prints grew nearly 15%+, and cost controls helped generate a modest EBITDA profit. Based on prudently conservative expectations for the core business and contribution from Kodak over the balance of 2012, we believe prospects remain good for the segment's market leader, Shutterfly."
Raises FY12 revenue estimate from $555.5 mln to $581 mln.
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 $31.16 yesterday.
Analyst, Colin Sebastian, said, "Results comfortably ahead of conservative guidance. Q1 results were nicely above our expectations as Shutterfly was better prepared to handle competitor promotions in Q1. In the face of ongoing pricing headwinds, we believe Shutterfly’s core business accelerated, Tiny Prints grew nearly 15%+, and cost controls helped generate a modest EBITDA profit. Based on prudently conservative expectations for the core business and contribution from Kodak over the balance of 2012, we believe prospects remain good for the segment's market leader, Shutterfly."
Raises FY12 revenue estimate from $555.5 mln to $581 mln.
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 $31.16 yesterday.
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