Shutterstock (SSTK) AI Stock Analysis

• Market Cap: $667.43M
• Dividend Yield: 7.14%
• Average Volume (3M): 224.74K
• Price to Earnings (P/E): 11.3
• Beta (1Y): 1.06
• Revenue Growth: 13.06%
• EPS Growth: 66.19%
• Country: US
• Employees: 1,715
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): 0.37
• Shares Outstanding: 35,520,350
• 10 Day Avg. Volume: 135,233
• 30 Day Avg. Volume: 224,739
• PEG Ratio: -0.45
• Price to Book (P/B): 2.07
• Price to Sales (P/S): 1.15
• P/FCF Ratio: -73.60
• Enterprise Value/Market Cap: 1.34
• Enterprise Value/Revenue: 0.88
• Enterprise Value/Gross Profit: 1.49
• Enterprise Value/Ebitda: 5.43
• 1Y Price Target: $28.85
• Price Target Upside: 52.40% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: $20.50 ▲(8.29% Upside)

The score is driven primarily by solid financial performance (profitability improvement, strong cash flow generation, and manageable leverage) and supportive valuation (low P/E and high dividend yield). Offsetting these positives, technical indicators remain bearish with the stock trading below major moving averages and negative momentum readings.

Positive Factors

Revenue Growth

Consistent revenue growth and strong gross margins indicate a robust business model and effective market penetration, supporting long-term sustainability.

Cash Generation

Strong cash generation enhances financial flexibility, enabling investment in growth opportunities and providing a buffer against economic downturns.

Balance Sheet Health

A balanced leverage approach and improved ROE reflect effective financial management, supporting long-term operational stability and growth potential.

Negative Factors

Rising Debt Levels

Increasing debt levels can limit financial flexibility and increase risk, potentially impacting the company's ability to invest in future growth.

Merger Regulatory Challenges

Regulatory hurdles in the merger process could delay strategic initiatives and create uncertainty, affecting long-term strategic positioning.

Operational Cost Pressures

Declining operational margins suggest cost pressures that may affect profitability, requiring strategic cost management to maintain competitiveness.

Shutterstock Business Overview & Revenue Model

Company Description

Shutterstock, Inc., a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects, and HD and 4K formats that are integrated into Websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage. The company provides its services under the Shutterstock, Bigstock, Offset, TurboSquid,PremiumBeat brand names, as well as Application programming interface to enhance workflow and project management needs, and search capabilities. It serves corporate professionals and organizations, media and broadcast companies, and small and medium-sized businesses, and individual creators. The company was founded in 2003 and is headquartered in New York, New York.

How the Company Makes Money

Shutterstock generates revenue primarily through the sale of digital content licenses, which allow customers to download and use images, videos, and music in their projects. The company operates a subscription model, offering different tiers of plans that provide users with access to varying amounts of content per month. Additionally, Shutterstock earns money through on-demand image and video purchases, as well as enterprise solutions for larger clients who require extensive content libraries. The company also partners with various platforms and applications, enhancing its distribution network and creating additional revenue opportunities through collaborations with businesses looking to integrate Shutterstock's content into their services.

Shutterstock Financial Statement Overview

Summary

Shutterstock exhibits strong financial health with impressive revenue growth and profitability improvements. The balance sheet is stable with manageable leverage, and cash flow generation is particularly strong, supporting future growth and investment opportunities. While there are some operational cost pressures, the company's financial position remains solid.

Income Statement

Shutterstock has demonstrated strong revenue growth with a TTM increase of 9.41% and consistent gross profit margins around 58%. The net profit margin has improved to 6.36% in the TTM, indicating enhanced profitability. However, the EBIT and EBITDA margins have slightly decreased over the years, suggesting some operational cost pressures.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.51 in the TTM, reflecting a balanced leverage approach. Return on equity has improved to 11.83% in the TTM, showcasing effective utilization of equity. The equity ratio remains stable, indicating a solid financial structure, though there has been an increase in total debt compared to previous years.

Cash Flow

Shutterstock's cash flow performance is robust, with a significant free cash flow growth rate of 4717.64% in the TTM. The operating cash flow to net income ratio is healthy, indicating strong cash generation relative to earnings. The free cash flow to net income ratio has improved, reflecting efficient cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.02B	935.26M	874.59M	827.83M	773.41M	666.69M
Gross Profit	598.14M	538.97M	521.96M	513.52M	495.76M	407.11M
EBITDA	164.62M	160.74M	204.05M	160.84M	153.57M	126.63M
Net Income	60.09M	35.93M	110.27M	76.10M	91.88M	71.77M
Balance Sheet
Total Assets	1.38B	1.31B	1.04B	881.18M	851.71M	729.64M
Cash, Cash Equivalents and Short-Term Investments	165.54M	111.25M	100.49M	115.15M	314.02M	428.57M
Total Debt	294.61M	310.79M	59.40M	85.61M	36.97M	41.62M
Total Liabilities	781.24M	790.81M	508.92M	433.70M	383.23M	307.72M
Stockholders Equity	594.36M	518.35M	527.09M	447.48M	468.48M	421.93M
Cash Flow
Free Cash Flow	94.27M	-14.57M	84.81M	98.33M	179.37M	136.47M
Operating Cash Flow	138.44M	32.65M	140.55M	158.45M	216.37M	165.07M
Investing Cash Flow	-47.49M	-166.17M	-54.32M	-275.55M	-250.44M	-35.31M
Financing Cash Flow	-58.73M	150.10M	-102.70M	-79.49M	-77.72M	-4.59M

Shutterstock Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18.93
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SSTK, the sentiment is Neutral. The current price of 18.93 is above the 20-day moving average (MA) of 18.78, below the 50-day MA of 20.08, and below the 200-day MA of 19.22, indicating a neutral trend. The MACD of -0.28 indicates Negative momentum. The RSI at 47.81 is Neutral, neither overbought nor oversold. The STOCH value of 72.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SSTK.

Shutterstock Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SSTK	73 Outperform	$667.43M	11.32	10.76%	7.14%	13.06%	66.19%
ANGI	62 Neutral	$538.52M	19.08	3.42%	―	-13.14%	17.25%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
NXDR	58 Neutral	$807.74M	-12.70	-14.07%	―	6.65%	50.32%
SMWB	50 Neutral	$633.30M	-19.45	-120.56%	―	14.25%	-211.21%
GETY	45 Neutral	$536.46M	-5.85	-13.79%	―	3.10%	-264.21%
GRPN	41 Neutral	$663.08M	-4.76	―	―	-0.76%	-635.75%

Shutterstock Corporate Events

Shutterstock Stockholders Back Board, Executive Pay and Auditor

On December 22, 2025, Shutterstock, Inc. held its Annual Meeting of Stockholders, at which a quorum was present with 31,293,114 of 35,520,353 eligible common shares represented. Stockholders elected Class III directors Jonathan Oringer, Rachna Bhasin, and Jaime Teevan to serve until the 2028 Annual Meeting, approved on an advisory basis the compensation of the company’s named executive officers, and ratified the Audit Committee’s appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2025, signaling continued investor support for the existing board, executive pay practices, and audit oversight arrangements.

The most recent analyst rating on (SSTK) stock is a Hold with a $28.85 price target. To see the full list of analyst forecasts on Shutterstock stock, see the SSTK Stock Forecast page.

Shutterstock Approves RSUs for CEO Amid Getty Merger

On November 25, 2025, Shutterstock‘s Board of Directors approved 375,110 restricted stock units (RSUs) for CEO Paul J. Hennessy, effective December 1, 2025, and vesting on July 1, 2027. This move aims to retain Hennessy through the company’s pending merger with Getty Images, replacing performance stock units with RSUs as per the merger agreement.

The most recent analyst rating on (SSTK) stock is a Hold with a $28.85 price target. To see the full list of analyst forecasts on Shutterstock stock, see the SSTK Stock Forecast page.

Shutterstock Declares Cash Dividend of $0.33 Per Share

Shutterstock, Inc. has announced its 2025 Annual Meeting of Stockholders, scheduled for December 22, 2025, with a record date of November 19, 2025. The company has set a deadline of November 16, 2025, for stockholder proposals and director nominations, ensuring compliance with Rule 14a-8 and its bylaws. Additionally, on November 5, 2025, Shutterstock declared a cash dividend of $0.33 per common share, payable on December 18, 2025, to shareholders of record as of December 4, 2025.

The most recent analyst rating on (SSTK) stock is a Hold with a $28.85 price target. To see the full list of analyst forecasts on Shutterstock stock, see the SSTK Stock Forecast page.

Shutterstock Reports Q3 2025 Revenue Growth Amid Merger Plans

Shutterstock reported its financial results for the third quarter of 2025, highlighting a 4% increase in revenue to $260.1 million compared to the same period in 2024. The growth was driven by a 40% increase in revenue from its Data, Distribution, and Services segment, despite a decline in Content revenue. The company’s net income decreased due to expenses related to a proposed merger with Getty Images and increased taxes, although adjusted EBITDA improved by 13%. The company remains committed to the merger with Getty Images, working with UK regulatory authorities to secure necessary approvals.

The most recent analyst rating on (SSTK) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Shutterstock stock, see the SSTK Stock Forecast page.

Shutterstock’s Getty Merger Faces CMA Phase 2 Review

On November 3, 2025, Shutterstock announced that the UK’s Competition and Markets Authority (CMA) has referred its proposed merger with Getty Images to a Phase 2 review process. Despite Getty Images offering remedies to avoid this, Shutterstock remains committed to the merger and will continue to engage with the CMA to secure necessary clearances, which could impact its market positioning and stakeholder interests.

The most recent analyst rating on (SSTK) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Shutterstock stock, see the SSTK Stock Forecast page.

Shutterstock Faces CMA Review for Getty Merger

On October 20, 2025, Shutterstock announced that the UK’s Competition and Markets Authority (CMA) plans to refer its proposed merger with Getty Images to a Phase 2 review unless competition concerns are addressed. Despite this regulatory hurdle, Shutterstock is determined to proceed with the merger and is actively engaging with the CMA and Getty Images to secure the necessary clearances, highlighting its commitment to the transaction and its potential impact on the company’s strategic positioning in the market.

The most recent analyst rating on (SSTK) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Shutterstock stock, see the SSTK Stock Forecast page.