- Needham analyst Bernie McTernan reiterated a Buy on Shutterstock, Inc (NYSE:SSTK) with a $70 price target.
- Shutterstock reported third-quarter FY22 revenue growth of 10% year-on-year to $204.1 million in constant currencies, missing the consensus of $213.8 million.
- Adjusted EPS of $1.00 beat the consensus of $0.89.
- SSTK reported a mixed quarter with the macro and demand headwinds weighing on revenue, causing SSTK to miss consensus expectations and lower the FY’22E guide.
- Still, SSTK beat on adjusted EBITDA in the quarter and raised the midpoint of FY’22E guidance driven by higher margins.
- He expects the focus of the call to be on analyzing SSTK’s ability to grow in a more challenging macro environment while also balancing competition and disruptive technology with SSTK announcing a partnership with OpenAI, an AI-content creation platform.
- Price Action: SSTK shares traded higher by 13.44% at $51.98 on the last check Tuesday.
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Renalytix Reports Reached Enrollment Milestone In Its Renalytix Accelerating Precision Medicine In Diabetes Biorepository
KidneyIntelX RAPID biobank program and partners on track to reach over 30,000 biospecimens with matched electronic health records from multiple centers across the U.S.
NEW YORK and SALT LAKE CITY, March 29, 2022 (GLOBE
