Shutterstock Issues Guidance for Fiscal Year 2022

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Shutterstock ($NYSE:SSTK) recently issued guidance for its earnings for fiscal year 2022. This guidance reflects Shutterstock’s strong momentum heading into the new year, driven by continued growth in its customer base and expanding content offerings. Looking ahead, Shutterstock remains focused on delivering value to its customers and shareholders through continued innovation and disciplined execution. The company is well-positioned to capitalize on the growing demand for licensed content and is committed to delivering long-term shareholder value.

Earnings

In its latest earning report for the third quarter of fiscal year 2022, ended September 30, Shutterstock Inc. earned 815.9 million U.S. dollars in total revenue, and 85.9 million U.S. dollars in net income. Compared to the same period the previous year, this represents a 5.5 percent increase in total revenue, and a 6.5 percent decrease in net income. The company attributes this growth to an increase in the number of paying customers and higher average revenue per customer. Shutterstock Inc. expects its revenue to continue to grow in fiscal year 2022, driven by continued growth in its customer base and higher average revenue per customer.

Market Price

Shutterstock Inc. on Thursday issued guidance for its fiscal year 2022, and at the time of writing, media sentiment mostly is positive. Shutterstock also announced that it has appointed Dror Eyal as its new Chief Executive Officer, effective immediately. On Thursday, SHUTTERSTOCK INC stock opened at $46.8 and closed at $45.9, down by 3.2% from prior closing price of 47.4.

VI Analysis

Shutterstock 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’s strong fundamentals and long-term potential make it a medium-risk investment from both a financial and business perspective, according to VI Risk Rating. However, VI App has detected 1 risk warning in the income sheet.

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 looking for an investment that will provide you with consistent growth potential, then Shutterstock Inc may be worth considering. This growth has been driven by increasing demand for digital content, as more businesses and individuals turn to the internet for their needs. Shutterstock is a well-established company with a proven business model, and it looks well-positioned to continue its growth trajectory in the years ahead. If you’re looking for a growth stock to add to your portfolio, Shutterstock Inc could be worth considering.