Shutterstock (SSTK)
NYSE:SSTK
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Shutterstock
(NYSE:SSTK)
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Rating:65Neutral
Price Target:
$19.00
▲(1.71% Upside)
Action:ReiteratedDate:02/24/26
The score is supported by improved financial flexibility (lower leverage) and a strong 2025 free-cash-flow rebound, plus a relatively attractive valuation with a high dividend yield. These positives are tempered by clear technical weakness (downtrend and bearish momentum) and softer fundamentals on the income statement, including slightly negative 2025 revenue growth and compressed profitability.
Positive Factors
Improved leverage and stronger balance sheet
A materially lower debt-to-equity (~0.23) and an equity base (~$581M) versus modest total debt (~$134M) provide durable financial flexibility. This balance-sheet strength supports capital returns, M&A execution, and resilience to revenue variability over the next several quarters.
Negative Factors
Slowing revenue and content demand weakness
A decline in top-line growth (-2.9% in 2025) and softer Content demand indicate weaker pricing power or lower acquisition momentum. Sustained revenue stagnation would constrain reinvestment, reduce scale economics, and amplify reliance on non-core segments to sustain growth over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage and stronger balance sheet
A materially lower debt-to-equity (~0.23) and an equity base (~$581M) versus modest total debt (~$134M) provide durable financial flexibility. This balance-sheet strength supports capital returns, M&A execution, and resilience to revenue variability over the next several quarters.
Read all positive factors
Shutterstock (SSTK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$586.17M
Dividend Yield7.14%
Average Volume (3M)413.47K
Price to Earnings (P/E)14.8
Beta (1Y)1.03
Revenue Growth13.06%
EPS Growth66.19%
CountryUS
Employees1,715
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-0.43
Shares Outstanding35,546,757
10 Day Avg. Volume308,152
30 Day Avg. Volume413,466
Financial Highlights & Ratios
PEG Ratio0.56
Price to Book (P/B)1.16
Price to Sales (P/S)0.68
P/FCF Ratio5.44
Enterprise Value/Market Cap1.24
Enterprise Value/Revenue0.73
Enterprise Value/Gross Profit1.25
Enterprise Value/Ebitda4.78
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.95
Revenue Forecast (FY)$943.35M
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 vis...
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 pl...
Shutterstock Key Performance Indicators (KPIs)
Any
Revenue by Channel
Shows the distribution of revenue across various sales channels, providing insight into Shutterstock's market strategy and the effectiveness of its sales efforts.
Shows the distribution of revenue across various sales channels, providing insight into Shutterstock's market strategy and the effectiveness of its sales efforts.
Data provided by:
The Fly
The FlyShutterstock Earnings Call Summary
Earnings Call Date:Oct 29, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with record revenues and EBITDA, strong performance from the Envato acquisition, and growth in Data Distribution and Services. However, there was a decline in core Content revenues, although improvement was noted. The overall sentiment is upbeat with raised guidance and strategic growth initiatives.Positive Updates
Record Third Quarter Revenues and Adjusted EBITDA
Shutterstock achieved record third quarter revenues of $251 million, representing a 7.4% year-over-year growth, and record adjusted EBITDA of $70 million with a 28% margin.
Negative Updates
Decline in Core Content Revenues
Excluding the Envato contribution, Content revenues declined 7% year-over-year, although this was an improvement from previous quarters' declines.
Read all updates
Q3-2024 Updates
Positive
Negative
Record Third Quarter Revenues and Adjusted EBITDA
Shutterstock achieved record third quarter revenues of $251 million, representing a 7.4% year-over-year growth, and record adjusted EBITDA of $70 million with a 28% margin.
Read all positive updates
Company Guidance
During the Q3 2024 earnings call for Shutterstock (SSTK), the company provided updated guidance, raising its revenue expectations to between $935 million and $940 million, representing a 7% to 7.5% year-over-year growth. Adjusted EBITDA guidance was also increased to a range of $247 million to $250 million. The call highlighted record third-quarter revenues of $251 million, a 7.4% year-over-year increase, and adjusted EBITDA of $70 million with a 28% margin. Content revenue reached $204 million, a 14% year-over-year increase, bolstered by Envato's $38 million contribution. Shutterstock's Data Distribution and Services segment generated $47 million in revenue, with substantial growth driven by AI-generated content and partnerships such as GIPHY's collaboration with TikTok. The company remains optimistic about achieving its 2027 targets of $1.2 billion in revenue and $350 million in EBITDA.Shutterstock Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
73
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 989.92M | 935.26M | 874.59M | 827.83M | 773.41M |
| Gross Profit | 575.68M | 538.97M | 521.96M | 513.52M | 495.76M |
| EBITDA | 200.86M | 160.74M | 204.05M | 160.84M | 153.57M |
| Net Income | 45.50M | 35.93M | 110.27M | 76.10M | 91.88M |
Balance Sheet | |||||
| Total Assets | 1.36B | 1.31B | 1.04B | 881.18M | 851.71M |
| Cash, Cash Equivalents and Short-Term Investments | 178.24M | 111.25M | 100.49M | 115.15M | 314.02M |
| Total Debt | 317.58M | 310.79M | 59.40M | 85.61M | 36.97M |
| Total Liabilities | 774.90M | 790.81M | 508.92M | 433.70M | 383.23M |
| Stockholders Equity | 581.04M | 518.35M | 527.09M | 447.48M | 468.48M |
Cash Flow | |||||
| Free Cash Flow | 123.83M | -14.57M | 84.81M | 98.33M | 179.37M |
| Operating Cash Flow | 166.69M | 32.65M | 140.55M | 158.45M | 216.37M |
| Investing Cash Flow | -47.80M | -166.17M | -54.32M | -275.55M | -250.44M |
| Financing Cash Flow | -59.10M | 150.10M | -102.70M | -79.49M | -77.72M |
Shutterstock Technical Analysis
Negative
18.68
Price Trends
17.26
Negative
18.36
Negative
19.11
Negative
Market Momentum
-0.12
Negative
47.36
Neutral
44.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SSTK, the sentiment is Negative. The current price of 18.68 is above the 20-day moving average (MA) of 16.63, above the 50-day MA of 17.26, and below the 200-day MA of 19.11, indicating a bearish trend. The MACD of -0.12 indicates Negative momentum. The RSI at 47.36 is Neutral, neither overbought nor oversold. The STOCH value of 44.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SSTK.
Shutterstock Risk Analysis
Shutterstock disclosed 55 risk factors in its most recent earnings report. Shutterstock reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Shutterstock Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $586.17M | 14.82 | 7.88% | 7.14% | 13.06% | 66.19% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $289.16M | 13.76 | 4.41% | ― | -13.14% | 17.25% | |
51 Neutral | $546.69M | ― | -12.56% | ― | 6.65% | 50.32% | |
50 Neutral | $233.93M | -19.21 | -137.41% | ― | 14.25% | -211.21% | |
49 Neutral | $321.89M | -2.69 | -34.48% | ― | 3.10% | -264.21% | |
45 Neutral | $459.59M | -8.50 | 6142.31% | ― | -0.76% | -635.75% |
* Communication Services Sector Average
SSTK
Shutterstock
16.49
-0.77
-4.43%
ANGI
Angi
7.21
-9.22
-56.12%
GRPN
Groupon
11.28
-6.91
-37.99%
GETY
Getty Images Holdings
0.77
-1.20
-60.91%
NXDR
Nextdoor Holdings
1.41
-0.24
-14.55%
SMWB
Similarweb
2.69
-6.15
-69.57%
Shutterstock Corporate Events
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
Shutterstock, Getty Images Merger Gains Unconditional U.S. Clearance
Positive
Feb 23, 2026
On February 23, 2026, Getty Images and Shutterstock announced that the U.S. Department of Justice had completed its antitrust review of their proposed merger of equals and allowed the Hart-Scott-Rodino waiting period to expire without conditions, ...
Business Operations and StrategyLegal ProceedingsM&A TransactionsRegulatory Filings and Compliance
Shutterstock Responds to UK CMA Concerns on Getty Merger
Neutral
Feb 19, 2026
On February 19, 2026, Shutterstock issued a statement responding to the UK Competition and Markets Authority’s provisional findings on its proposed merger with Getty Images Holdings. The regulator’s interim view found no competition co...
Business Operations and StrategyDividendsFinancial DisclosuresM&A Transactions
Shutterstock Posts Record 2025 Results Amid Merger Costs
Neutral
Feb 17, 2026
For the full year ended December 31, 2025, Shutterstock reported record revenue of $989.9 million, up 6% year on year, with adjusted EBITDA rising 10% to $271.8 million and margins reaching 27.5%, helped by a full-year contribution from Envato and...
Dividends
Shutterstock Board Declares Quarterly Cash Dividend Payment
Positive
Jan 27, 2026
On January 26, 2026, Shutterstock’s board of directors declared a cash dividend of $0.36 per common share, payable on March 19, 2026, to shareholders of record as of March 5, 2026. The dividend announcement underscores the company’s on...
Executive/Board ChangesShareholder Meetings
Shutterstock Stockholders Back Board, Executive Pay and Auditor
Positive
Dec 22, 2025
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 Bha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.