Shutterfly (NASDAQ:SFLY)‘s stock had its “buy” rating restated by equities research analysts at Aegis in a research report issued to clients and investors on Sunday. They currently have a $73.00 target price on the technology company’s stock. Aegis’ target price points to a potential upside of 5.49% from the stock’s current price.
The analysts wrote, “We maintain our Buy rating and increase our price target on the stock to $73. We keep Shutterfly on our list (here) of four SMID Internet stocks that could deliver FANG-like shareholder returns this year.””
A number of other analysts have also recently commented on SFLY. Zacks Investment Research cut Shutterfly from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Goldman Sachs Group restated a “neutral” rating and issued a $47.00 price objective on shares of Shutterfly in a research report on Wednesday, October 11th. ValuEngine upgraded Shutterfly from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. BidaskClub upgraded Shutterfly from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Finally, SunTrust Banks boosted their price objective on Shutterfly to $60.00 and gave the company a “buy” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.88.
Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings data on Tuesday, January 30th. The technology company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.25. The business had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $556.40 million. Shutterfly had a return on equity of 6.99% and a net margin of 2.53%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.63 earnings per share. equities analysts forecast that Shutterfly will post 2.09 EPS for the current fiscal year.
Shutterfly announced that its Board of Directors has approved a stock buyback program on Tuesday, January 30th that permits the company to buyback shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other Shutterfly news, CAO Lisa Blackwood-Kapral sold 719 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $40.78, for a total value of $29,320.82. Following the completion of the sale, the chief accounting officer now directly owns 1,900 shares in the company, valued at approximately $77,482. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Christopher North sold 170,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $67.76, for a total value of $11,519,200.00. Following the completion of the sale, the chief executive officer now owns 97,394 shares of the company’s stock, valued at $6,599,417.44. The disclosure for this sale can be found here. Insiders have sold 196,003 shares of company stock valued at $12,620,221 over the last quarter. 0.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in Shutterfly by 14.5% in the 4th quarter. Rhumbline Advisers now owns 77,724 shares of the technology company’s stock valued at $3,867,000 after buying an additional 9,852 shares in the last quarter. Arizona State Retirement System grew its holdings in Shutterfly by 219.0% in the 4th quarter. Arizona State Retirement System now owns 55,181 shares of the technology company’s stock valued at $2,745,000 after buying an additional 37,881 shares in the last quarter. Capital Fund Management S.A. grew its holdings in Shutterfly by 26.4% in the 4th quarter. Capital Fund Management S.A. now owns 22,577 shares of the technology company’s stock valued at $1,123,000 after buying an additional 4,711 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in Shutterfly by 264.0% in the 4th quarter. Pinebridge Investments L.P. now owns 15,074 shares of the technology company’s stock valued at $750,000 after buying an additional 10,933 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Shutterfly by 430.8% in the 4th quarter. Wells Fargo & Company MN now owns 395,028 shares of the technology company’s stock valued at $19,653,000 after buying an additional 320,604 shares in the last quarter.
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Shutterfly Company Profile
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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