Barclays Maintains an 'Overweight' on Shutterfly (SFLY); Cutting Numbers as Guidance Reflects Growing Competition
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Price: $50.97 --0%
Rating Summary:
4 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
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Rating Summary:
4 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Barclays maintains an 'Overweight' on Shutterfly Inc. (NASDAQ: SFLY), but price target chopped from $64 to $40.
Analyst, Mark May, said, "SFLY reported 4Q11 results that while at the high end of the pre-announced range, were still below previous expectations and reflected AOV pressure for the Shutterfly brand, slower-than-expected customer growth at TinyPrints, and slightly lower gross and operating margins...While growth has slowed, margins are taking a hit, and the environment remains somewhat uncertain, we're maintaining our OW rating down here."
May suggests year-over-year organic growth was good (21% vs 24% in the prior qtr), however, mgmt's guidance was below estimates. Therefore, May cut FY12 EPS estimate from $1.51 to $1.12.
Shares are currently trading at $26.00, up $0.88 (+3.50%)
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 $25.12 yesterday.
Analyst, Mark May, said, "SFLY reported 4Q11 results that while at the high end of the pre-announced range, were still below previous expectations and reflected AOV pressure for the Shutterfly brand, slower-than-expected customer growth at TinyPrints, and slightly lower gross and operating margins...While growth has slowed, margins are taking a hit, and the environment remains somewhat uncertain, we're maintaining our OW rating down here."
May suggests year-over-year organic growth was good (21% vs 24% in the prior qtr), however, mgmt's guidance was below estimates. Therefore, May cut FY12 EPS estimate from $1.51 to $1.12.
Shares are currently trading at $26.00, up $0.88 (+3.50%)
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 $25.12 yesterday.
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