Shutterfly (SFLY) Upgraded at BidaskClub

BidaskClub upgraded shares of Shutterfly (NASDAQ:SFLY) from a strong sell rating to a sell rating in a research report released on Saturday morning, BidAskClub reports.

Several other brokerages also recently weighed in on SFLY. Zacks Investment Research downgraded Shutterfly from a hold rating to a sell rating in a research report on Tuesday, March 19th. Aegis reiterated a buy rating and issued a $57.00 price objective on shares of Shutterfly in a research report on Tuesday, April 30th. ValuEngine upgraded Shutterfly from a sell rating to a hold rating in a report on Friday, April 26th. SunTrust Banks restated a buy rating and set a $57.00 target price on shares of Shutterfly in a report on Friday, April 26th. Finally, Raymond James upgraded Shutterfly from a market perform rating to an outperform rating and set a $56.00 target price for the company in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Shutterfly currently has a consensus rating of Hold and an average price target of $53.00.

Shares of SFLY stock opened at $48.94 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.20 and a debt-to-equity ratio of 1.61. Shutterfly has a fifty-two week low of $35.08 and a fifty-two week high of $100.34. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 16.05 and a beta of 1.40.

Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported ($2.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.53) by $0.06. Shutterfly had a positive return on equity of 8.20% and a negative net margin of 0.29%. The firm had revenue of $324.68 million during the quarter, compared to the consensus estimate of $323.12 million. During the same quarter in the previous year, the company posted ($0.83) earnings per share. The business’s revenue was up 62.6% on a year-over-year basis. On average, equities analysts predict that Shutterfly will post 0.81 EPS for the current year.

In related news, CEO Michael Meek sold 941 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $40.46, for a total transaction of $38,072.86. Following the completion of the transaction, the chief executive officer now owns 3,081 shares in the company, valued at $124,657.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michele Anderson sold 4,188 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $44.57, for a total value of $186,659.16. Following the transaction, the senior vice president now owns 13,301 shares of the company’s stock, valued at approximately $592,825.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,754 shares of company stock valued at $300,278. 2.40% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SFLY. Norges Bank bought a new position in shares of Shutterfly during the fourth quarter valued at approximately $26,138,000. Advent International Corp MA purchased a new stake in Shutterfly in the fourth quarter worth $15,987,000. Renaissance Technologies LLC grew its stake in Shutterfly by 87.2% in the first quarter. Renaissance Technologies LLC now owns 805,100 shares of the technology company’s stock worth $32,719,000 after purchasing an additional 375,000 shares during the period. Ulysses Management LLC grew its stake in Shutterfly by 98.8% in the fourth quarter. Ulysses Management LLC now owns 593,597 shares of the technology company’s stock worth $23,898,000 after purchasing an additional 294,939 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Shutterfly by 237.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 409,700 shares of the technology company’s stock worth $16,493,000 after purchasing an additional 288,460 shares during the period.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products primarily in the United States, Canada, and the European Community. The company operates through three reportable segments: Shutterfly Consumer, Lifetouch, and Shutterfly Business Solutions. The Shutterfly Consumer segment provides products, such as portraits, cards and stationery items, professionally-bound photo books and year books, personalized gifts and home décor products, and calendars and prints; and mugs, ornaments, candles, pillows, and blankets through the Shutterfly, Tiny Prints, and Groovebook domains, as well as rents photographic and video equipment under BorrowLenses brand.

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Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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