Truist analyst Youssef Squali raised the firm’s price target on Shutterstock to $86 from $70 and keeps a Buy rating on the shares. The analyst is positive on the company following a strong set of Q4 results and favorable FY23 outlook, noting that Shutterstock is benefiting from strength in Enterprise demand with growing contribution from AI partnerships.
Published first on TheFly
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Read More on SSTK:
- Shutterstock sees 2023 adjuted EPS $3.90-$4.05, consensus $3.50
- Shutterstock reports Q4 adjusted EPS $1.05, consensus 95c
- Shutterstock Reports Fourth Quarter and Full Year 2022 Financial Results
- Shutterstock raises quarterly dividend 13% to 27c per share
- Shutterstock Increases Quarterly Dividend by 13% to $0.27 per share
