SunTrust Banks Cuts Shutterfly (SFLY) Price Target to $90.00

Shutterfly (NASDAQ:SFLY) had its price objective lowered by SunTrust Banks to $90.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. SunTrust Banks’ target price would suggest a potential upside of 68.67% from the company’s current price.

SFLY has been the subject of a number of other reports. Zacks Investment Research cut shares of Shutterfly from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. BidaskClub cut shares of Shutterfly from a “hold” rating to a “sell” rating in a research report on Saturday, July 7th. TheStreet cut shares of Shutterfly from a “b-” rating to a “c+” rating in a research report on Tuesday, September 4th. ValuEngine cut shares of Shutterfly from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Robert W. Baird boosted their price objective on shares of Shutterfly from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Shutterfly currently has an average rating of “Hold” and a consensus price target of $90.80.

Shares of NASDAQ SFLY traded down $7.18 during trading on Wednesday, hitting $53.36. 1,177,933 shares of the company traded hands, compared to its average volume of 572,280. Shutterfly has a 1 year low of $39.76 and a 1 year high of $100.34. The stock has a market capitalization of $1.97 billion, a PE ratio of 50.82, a P/E/G ratio of 1.00 and a beta of 0.95. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 2.01.

Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported ($2.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.42) by $0.22. Shutterfly had a net margin of 2.26% and a return on equity of 13.03%. The company had revenue of $368.76 million during the quarter, compared to analysts’ expectations of $377.54 million. During the same period in the previous year, the company earned ($0.78) EPS. The business’s quarterly revenue was up 88.7% compared to the same quarter last year. Equities research analysts expect that Shutterfly will post 2.81 EPS for the current fiscal year.

In other news, SVP Michele Anderson sold 9,030 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.95, for a total value of $685,828.50. Following the sale, the senior vice president now owns 9,030 shares in the company, valued at approximately $685,828.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 435 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $73.72, for a total transaction of $32,068.20. Following the completion of the sale, the chief accounting officer now owns 1,250 shares in the company, valued at approximately $92,150. The disclosure for this sale can be found here. Insiders sold a total of 56,222 shares of company stock worth $3,731,954 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of SFLY. Renaissance Technologies LLC raised its stake in shares of Shutterfly by 32.9% in the 2nd quarter. Renaissance Technologies LLC now owns 948,068 shares of the technology company’s stock valued at $85,355,000 after purchasing an additional 234,568 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Shutterfly by 208.9% in the 2nd quarter. American Century Companies Inc. now owns 324,834 shares of the technology company’s stock valued at $29,245,000 after purchasing an additional 219,679 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Shutterfly by 5,213.7% in the 2nd quarter. SG Americas Securities LLC now owns 140,920 shares of the technology company’s stock valued at $12,687,000 after purchasing an additional 138,268 shares in the last quarter. Millennium Management LLC raised its stake in shares of Shutterfly by 452.6% in the 2nd quarter. Millennium Management LLC now owns 168,502 shares of the technology company’s stock valued at $15,170,000 after purchasing an additional 138,009 shares in the last quarter. Finally, Castleark Management LLC acquired a new stake in shares of Shutterfly in the 2nd quarter valued at about $11,101,000.

Shutterfly Company Profile

Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.

Further Reading: Fundamental Analysis and Individual Investors

The Fly

Receive News & Ratings for Shutterfly Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterfly and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply