Shutterfly (SFLY) volatility elevated; shares lower on outlook

Shutterfly (Nasdaq: SFLY) is recently down $2.53 to $22.59 in the premarket following the company seeing FY12 EPS 25c-28c vs. consensus 52c. Overall option implied volatility of 79 is above its 26-week average of 65 according to Track Data. Craig-Hallum say’s “Weak guidance assumes competitive discounts continue all year. Maintaining Buy and $32 price target.”

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