Shutterstock (SSTK)
NYSE:SSTK
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Shutterstock
(NYSE:SSTK)
Select Model
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Rating:55Neutral
Price Target:
$14.00
▼(-25.05% Downside)
Action:Reiterated
Date:06/02/26
The score is driven primarily by weakening financial performance (revenue decline and a swing to net losses) tempered by still-positive free cash flow and a serviceable balance sheet. Technicals are a key drag with the stock in a strong downtrend and bearish momentum, while valuation is mixed due to a very high dividend yield but negative earnings. Corporate events add risk via the FTC settlement and regulatory/merger-related uncertainty.
Positive Factors
Consistent positive free cash flow
Sustained positive operating cash flow (~$159M) and meaningful free cash flow (~$114M TTM) support ongoing capital returns, dividend maintenance, and investment in product and AI initiatives. This durable cash generation underpins financial flexibility despite cyclic revenue swings and funds strategic priorities.
Negative Factors
Recent revenue decline and earnings volatility
Top-line contraction and recent swing to net losses reflect weakening demand in the core Content segment and timing volatility in data deals. Persistent revenue and margin pressure reduces predictability of cash flow and limits reinvestment capacity, raising execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent positive free cash flow
Sustained positive operating cash flow (~$159M) and meaningful free cash flow (~$114M TTM) support ongoing capital returns, dividend maintenance, and investment in product and AI initiatives. This durable cash generation underpins financial flexibility despite cyclic revenue swings and funds strategic priorities.
Read all positive factors
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 (SSTK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$485.68M
Dividend Yield7.14%
Average Volume (3M)541.82K
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue Growth-1.77%
EPS Growth-152.61%
CountryUS
Employees1,715
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-0.57
Shares Outstanding36,738,014
10 Day Avg. Volume375,685
30 Day Avg. Volume541,817
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/Revenue0.64
Enterprise Value/Gross Profit1.11
Enterprise Value/Ebitda5.15
Forecast
1Y Price Target
$28.85Price Target Upside54.44% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-1.81
Revenue Forecast (FY)$780.00M
Shutterstock Business Overview & Revenue Model
Company Description
Shutterstock, Inc. is a leading technology enterprise that delivers premium digital content and innovative workflow solutions to a global clientele across North America, Europe, and other international markets. Its extensive offerings include a di...
How the Company Makes Money
Shutterstock primarily makes money by licensing creative content from its platform to customers under paid plans and other commercial arrangements. The core revenue stream is subscription-based and on-demand licensing for stock assets (e.g., image...
Shutterstock Earnings Call Summary
Earnings Call Date:Oct 29, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Jul 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
54
Neutral
Balance Sheet
66
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 946.48M | 989.92M | 935.26M | 874.59M | 827.83M | 773.41M |
| Gross Profit | 543.91M | 575.68M | 538.97M | 521.96M | 513.52M | 495.76M |
| EBITDA | 116.86M | 183.05M | 160.74M | 204.05M | 160.84M | 153.57M |
| Net Income | -20.76M | 45.50M | 35.93M | 110.27M | 76.10M | 91.88M |
Balance Sheet | ||||||
| Total Assets | 1.31B | 1.36B | 1.31B | 1.04B | 881.18M | 851.71M |
| Cash, Cash Equivalents and Short-Term Investments | 162.52M | 178.24M | 111.25M | 100.49M | 115.15M | 314.02M |
| Total Debt | 289.35M | 317.58M | 310.79M | 59.40M | 85.61M | 36.97M |
| Total Liabilities | 779.12M | 774.90M | 790.81M | 508.92M | 433.70M | 383.23M |
| Stockholders Equity | 532.08M | 581.04M | 518.35M | 527.09M | 447.48M | 468.48M |
Cash Flow | ||||||
| Free Cash Flow | 114.02M | 123.83M | -14.57M | 84.81M | 98.33M | 179.37M |
| Operating Cash Flow | 158.81M | 166.69M | 32.65M | 140.55M | 158.45M | 216.37M |
| Investing Cash Flow | -47.71M | -47.80M | -166.17M | -54.32M | -275.55M | -250.44M |
| Financing Cash Flow | -63.23M | -59.10M | 150.10M | -102.70M | -79.49M | -77.72M |
Shutterstock Technical Analysis
Negative
18.68
Price Trends
15.50
Negative
15.99
Negative
17.84
Negative
Market Momentum
-0.62
Negative
38.82
Neutral
22.30
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 14.02, above the 50-day MA of 15.50, and above the 200-day MA of 17.84, indicating a bearish trend. The MACD of -0.62 indicates Negative momentum. The RSI at 38.82 is Neutral, neither overbought nor oversold. The STOCH value of 22.30 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $839.05M | ― | -10.32% | ― | 6.78% | 52.54% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | $437.13M | -14.50 | -129.57% | ― | 12.16% | -60.98% | |
55 Neutral | $485.68M | -22.63 | -3.62% | 7.14% | -1.77% | -152.61% | |
54 Neutral | $203.05M | 11.85 | 2.06% | ― | -9.14% | -60.63% | |
49 Neutral | $614.96M | -6.34 | 364.92% | ― | 2.42% | -175.21% | |
44 Neutral | $253.51M | -2.35 | -18.42% | ― | 4.54% | -39.79% |
* Communication Services Sector Average
SSTK
Shutterstock
13.22
-3.69
-21.83%
ANGI
Angi
5.02
-10.18
-66.97%
GRPN
Groupon
16.19
-20.74
-56.16%
GETY
Getty Images Holdings
0.61
-1.25
-67.30%
NXDR
Nextdoor Holdings
2.20
0.61
38.36%
SMWB
Similarweb
4.99
-2.31
-31.64%
Shutterstock Corporate Events
M&A TransactionsRegulatory Filings and Compliance
UK Regulator Concludes Review of Shutterstock-Getty Merger
Neutral
May 15, 2026
On May 15, 2026, the UK Competition and Markets Authority issued its final report following a Phase 2 review of Shutterstock, Inc.’s proposed merger with Getty Images Holdings, Inc. This milestone concluded a key regulatory stage in the UK f...
Business Operations and StrategyLegal ProceedingsRegulatory Filings and Compliance
Shutterstock Reaches $35 Million FTC Subscription Settlement
Negative
May 14, 2026
Shutterstock, Inc., a global provider of stock imagery and other creative digital content via subscription services, has faced regulatory scrutiny over how it enrolls and cancels subscribers. Its business centers on offering licensed photos, video...
Business Operations and StrategyDividendsFinancial DisclosuresM&A TransactionsRegulatory Filings and Compliance
Shutterstock Posts Q1 Loss Amid Merger and AI Investments
Negative
Apr 28, 2026
For the first quarter ended March 31, 2026, Shutterstock reported revenue of $199.2 million, down 18% year-on-year, and swung to a net loss of $47.6 million from a prior $18.7 million profit, as weakness in new content customer acquisition, volati...
Dividends
Shutterstock Declares Quarterly Cash Dividend for Shareholders
Positive
Apr 20, 2026
Shutterstock, a provider of digital media and content licensing services, operates in the broader creative and technology industry, offering stock images, footage, and related creative assets to businesses and professionals worldwide.On April 20, ...
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.