Shutterstock stock soars 14% on better-than-expected earnings

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Shutterstock ($NYSE:SSTK) is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. The company reported better-than-expected earnings for the third quarter, with non-GAAP EPS rising by 42.86% year-over-year to $1. This beat analysts’ estimates by $0.46. The company also announced an expanded partnership with OpenAI, which is a leading artificial intelligence research company. This partnership will bring AI-generated content to Shutterstock, which will help the company create even more realistic and lifelike images.

Shutterstock stock rose by 14% on Tuesday after the company released its third quarter earnings, which beat estimates. The company also announced an expanded partnership with OpenAI, which will bring AI-generated content to Shutterstock. This partnership will help the company create even more realistic and lifelike images.

Earnings

Shutterstock reported its earnings for the second quarter of its 2022 fiscal year, and the results were better than expected. The company earned a total of 806.2 million dollars in revenue, and a net income of 78.9 million dollars. Compared to the same quarter last year, this represents a 4.2% increase in total revenue, and a 14.1% decrease in net income.

However, over the last three years, Shutterstock’s total revenue has increased from 666.7 million dollars to 806.2 million dollars. investors were pleased with the results and the stock soared 14%. This is a positive sign for the company, which has been facing some challenges in recent years.

Market Price

Shutterstock stock soared 14% on better-than-expected earnings, with the company’s share price opening at $48.1 and closing at $50.6. This is a significant increase from the previous closing price of $45.8, and till now, news coverage on the company has mostly been negative.

However, on Tuesday, investors were pleased with Shutterstock’s earnings report and pushed the stock up. This is a good sign for the company, which has been facing some challenges in recent months. With this latest development, it seems that Shutterstock is back on track and investors are confident in its future.

VI Analysis

A company’s fundamentals reflect its long-term potential. The VI app analyzes a company’s financial and business risk factors to provide an overall risk rating. According to VI, SHUTTERSTOCK is a medium risk investment.

The app has detected 1 risk warning in the company’s income sheet. Registering with VI gives investors access to detailed information about a company’s risks and potential rewards.

VI Peers

With over 225 million royalty-free images in its collection, Shutterstock adds hundreds of thousands of images each week, and serves over 1.5 million customers in 150 countries. Its competitors include Hypebeast Ltd, Visual China Group Co Ltd, Yangaroo Inc.

– Hypebeast Ltd ($SEHK:00150)

Hypebeast Ltd is a global retailer specializing in streetwear and contemporary fashion. As of 2022, the company has a market capitalization of 1.01 billion and a return on equity of 20.07%. Hypebeast was founded in 2005 as a blog covering the latest in streetwear and sneakers. Today, the company operates a successful e-commerce platform and brick-and-mortar stores across the world. In addition to selling its own line of apparel and accessories, Hypebeast curates and sells products from some of the most coveted brands in the fashion industry.

– Visual China Group Co Ltd ($SZSE:000681)

Founded in 2000, Visual China Group is the largest visual content provider in China with over 150 million images and illustrations. The company offers a comprehensive suite of visual content products and services, including royalty-free images, editorial images, video, and illustration. It also provides visual content licensing, production, and distribution services to businesses and media organizations. As of 2022, Visual China Group has a market cap of 7.61B and a return on equity of 1.87%. The company’s products and services are used by businesses and media organizations worldwide.

– Yangaroo Inc ($TSXV:YOO)

Kangaroo is a provider of secure digital workspaces. The company has a market cap of 3.11M and a return on equity of 21.73%. Kangaroo’s digital workspace solutions enable organizations to securely access, manage, and share data and applications from any device, anywhere.

Summary

If you’re considering investing in Shutterstock, Inc. , there are a few things you should know. Shutterstock also offers a subscription-based service that allows customers to download an unlimited number of images for a monthly fee. Shutterstock’s stock price has been volatile in recent years, but the company’s strong financial position and growing revenue suggest that it is a good long-term investment.