Shutterstock Reports Second Quarter 2020 Financial Results
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Shutterstock (SSTK) PT Raised to $65 at Needham & Company
July 28, 2020 1:28 PM EDTNeedham & Company analyst Brad Erickson raised the price target on Shutterstock (NYSE: SSTK) to $65.00 (from $50.00) while maintaining a Buy rating.
The analyst commented, "SSTK's business is rebounding off the COVID bottom and consistent with our recent initiation, the company is beginning to show... More
Shutterstock (SSTK) Tops Q2 EPS by 27c, Revenues Beat
July 28, 2020 7:04 AM EDTShutterstock (NYSE: SSTK) reported Q2 EPS of $0.53, $0.27 better than the analyst estimate of $0.26. Revenue for the quarter came in at $159.2 million versus the consensus estimate of $149.99 million.
Second Quarter 2020 highlights compared to Second Quarter 2019:
Key Operating Metrics
Subscribers increased 29%, to 223,000.Subscriber revenue increased 8% to $62.7 million.Average revenue per customer, increased 0.2% to $326.Paid downloads decreased 6% to 44.0 million.Revenue per download increased by $0.17 to $3.61.Image collection expanded 21% to approximately 340 million... More