Shutterfly (SFLY) PT Raised to $60.00 at SunTrust Banks

Shutterfly (NASDAQ:SFLY) had its target price upped by SunTrust Banks to $60.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the technology company’s stock. SunTrust Banks also issued estimates for Shutterfly’s FY2022 earnings at $2.81 EPS.

Several other analysts have also issued reports on SFLY. ValuEngine upgraded shares of Shutterfly from a sell rating to a hold rating in a research note on Friday, December 29th. BidaskClub upgraded shares of Shutterfly from a sell rating to a hold rating in a research note on Friday, December 29th. Zacks Investment Research lowered shares of Shutterfly from a hold rating to a sell rating in a research note on Tuesday, October 10th. Goldman Sachs Group reiterated a neutral rating and issued a $47.00 target price on shares of Shutterfly in a research note on Wednesday, October 11th. Finally, Aegis reiterated a buy rating and issued a $56.00 target price on shares of Shutterfly in a research note on Tuesday, October 24th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $54.00.

Shutterfly (SFLY) traded up $0.70 during midday trading on Friday, hitting $53.08. 1,225,600 shares of the stock traded hands, compared to its average volume of 794,133. Shutterfly has a 12-month low of $39.76 and a 12-month high of $53.99. The company has a market cap of $1,742.76, a price-to-earnings ratio of 279.37 and a beta of 0.84.

Shutterfly (NASDAQ:SFLY) last posted its earnings results on Tuesday, October 24th. The technology company reported ($0.78) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.01. Shutterfly had a net margin of 0.81% and a return on equity of 4.66%. The firm had revenue of $195.44 million during the quarter, compared to analyst estimates of $191.65 million. During the same quarter in the prior year, the business posted ($0.86) EPS. The business’s revenue was up 4.3% compared to the same quarter last year. analysts forecast that Shutterfly will post 0.45 earnings per share for the current fiscal year.

In related news, SVP Satish Menon sold 25,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $42.30, for a total transaction of $1,057,500.00. Following the completion of the transaction, the senior vice president now owns 38,221 shares in the company, valued at $1,616,748.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 719 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $40.78, for a total transaction of $29,320.82. Following the transaction, the chief accounting officer now owns 1,900 shares of the company’s stock, valued at approximately $77,482. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,003 shares of company stock valued at $3,060,675. 0.80% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of SFLY. Legal & General Group Plc boosted its position in Shutterfly by 8.7% during the second quarter. Legal & General Group Plc now owns 66,110 shares of the technology company’s stock worth $3,140,000 after purchasing an additional 5,265 shares during the period. Principal Financial Group Inc. boosted its position in Shutterfly by 0.3% during the second quarter. Principal Financial Group Inc. now owns 261,558 shares of the technology company’s stock worth $12,424,000 after purchasing an additional 854 shares during the period. Riverhead Capital Management LLC boosted its position in Shutterfly by 62.1% during the second quarter. Riverhead Capital Management LLC now owns 2,431 shares of the technology company’s stock worth $116,000 after purchasing an additional 931 shares during the period. Teachers Advisors LLC boosted its position in Shutterfly by 0.7% during the second quarter. Teachers Advisors LLC now owns 102,839 shares of the technology company’s stock worth $4,885,000 after purchasing an additional 734 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Shutterfly by 17.8% during the second quarter. Ameriprise Financial Inc. now owns 208,554 shares of the technology company’s stock worth $9,906,000 after purchasing an additional 31,581 shares during the period.

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About Shutterfly

Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.

The Fly

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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