Shutterfly Inc. (SFLY) Stock Rating Reaffirmed by Needham & Company LLC
Shutterfly Inc. (NASDAQ:SFLY)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report released on Wednesday. They presently have a $56.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 9.74% from the stock’s previous close.
Several other research analysts have also recently issued reports on SFLY. Cantor Fitzgerald restated a “buy” rating on shares of Shutterfly in a report on Saturday, July 9th. Zacks Investment Research cut shares of Shutterfly from a “strong-buy” rating to a “hold” rating in a report on Monday, July 18th. Jefferies Group restated a “hold” rating on shares of Shutterfly in a report on Monday, July 11th. Barclays PLC upped their target price on shares of Shutterfly from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $59.00 price target on shares of Shutterfly in a research note on Sunday, September 4th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $52.92.
Shutterfly (NASDAQ:SFLY) traded up 0.02% during mid-day trading on Wednesday, hitting $51.04. 102,567 shares of the stock were exchanged. The company has a 50-day moving average price of $50.76 and a 200-day moving average price of $48.00. The company has a market cap of $1.73 billion, a P/E ratio of 81.02 and a beta of 1.32. Shutterfly has a one year low of $35.22 and a one year high of $54.60.
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Shutterfly (NASDAQ:SFLY) last issued its earnings results on Wednesday, July 27th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.17. Shutterfly had a net margin of 2.01% and a return on equity of 4.86%. The business earned $204 million during the quarter, compared to analysts’ expectations of $200.73 million. During the same quarter in the prior year, the business posted ($0.63) EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts forecast that Shutterfly will post $0.55 earnings per share for the current fiscal year.
In other news, SVP Tracy Layney sold 13,066 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $46.90, for a total value of $612,795.40. Following the completion of the transaction, the senior vice president now owns 32,625 shares in the company, valued at approximately $1,530,112.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas David Hughes sold 1,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $51.61, for a total transaction of $51,610.00. Following the completion of the transaction, the director now owns 3,957 shares of the company’s stock, valued at approximately $204,220.77. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SFLY. Vanguard Group Inc. increased its position in shares of Shutterfly by 4.8% in the second quarter. Vanguard Group Inc. now owns 2,333,253 shares of the company’s stock worth $108,753,000 after buying an additional 107,457 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Shutterfly by 1.8% in the second quarter. Alliancebernstein L.P. now owns 1,454,918 shares of the company’s stock worth $67,814,000 after buying an additional 25,438 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Shutterfly by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,293,054 shares of the company’s stock worth $60,269,000 after buying an additional 57,753 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Shutterfly by 8.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 966,972 shares of the company’s stock worth $44,838,000 after buying an additional 76,050 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Shutterfly by 286.6% in the first quarter. Renaissance Technologies LLC now owns 584,100 shares of the company’s stock worth $27,085,000 after buying an additional 433,000 shares in the last quarter. Institutional investors and hedge funds own 97.69% of the company’s stock.
Shutterfly, Inc is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and also ships, as well as rents the BorrowLenses brand of products.
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