Needham & Company Assumes Shutterstock (SSTK) at Buy

Needham & Company analyst Chris Pierce assumes coverage on Shutterstock (NYSE: SSTK) with a Buy rating and a price target of $95.00.

The analyst commented, "We raise our estimates and price target on SSTK on the heels of another positive EBTIDA surprise, with this report bringing more notable revenue upside and the company laying out a path to maintain revenue momentum. Post a strong close to '20, we expect recent TAM and moat expanding acquisitions to support an acceleration of revenue growth post more modest growth in '19 & '20, and the earlier-than-expected inflection in Enterprise could point to conservative guidance and improving execution. We remain bullish and reiterate our Buy rating."

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 $85.35 yesterday.

You May Also Be Interested In

• UPDATE: JMP Securities Starts Shutter Rock Capital Corp. (SSSS) at Market Outperform
• UPDATE: Wolfe Research Upgrades Magellan Midstream Partners (MMP) to Peerperform
• ASML Holding NV (ASML:NA) (ASML) PT Raised to EUR500 at Deutsche Bank