Shutterstock slips on downbeat revenue forecast, underwhelming Q4 results
21/02/2024 14:10
** Shares of stock photos repository Shutterstock SSTK.N
fall 1.1% to $44 premarket
** Co forecasts FY24 revenue of $875 mln; below Wall Street
view of $919.3 mln - LSEG data
** Co sees FY24 adj. EPS between $4.15 and $4.30; average
estimate is $4.18
** Q4 revenue of $217.2 mln misses analyst estimate of $224
mln
** Co posts quarterly net loss of $1 mln or $0.03/share;
compared to profit of $7 mln or $0.19/share in Q4 2022
** Three of six brokerages rate the stock "buy", two "hold"
and one "sell"; their median PT is $60
** In 2023, SSTK stock lost 8.4%
(Reporting by Khushi Singh in Bengaluru)
((Khushi.Singh@thomsonreuters.com;))