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/SSTK
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Shutterstock Inc

Shutterstock Inc

SSTK
$7.41USD↓-2.63%-0.20 today

MARKET CAP

272.2M

P/E (TTM)

1.8x

FWD P/E

17.3x

DAY RANGE

$7 – $8

52W RANGE

$7
$30

AI Summary

Stalk
TrimMedium

SSTK remains entrenched in a Stage 4 decline with confirmed long- and short-term downtrends. No mean-reversion eligibility is present, and despite extreme oversold readings, structural selling dominates. The tradable side stays bearish, with sell-side engagement deferred until a rebound into the declining 9/21 EMA zone offers a better execution opportunity.

  • ↑Q3 2024 revenue hit $251M (+7.4% YoY) with adjusted EBITDA of $70M (28% margin).
  • ↑Envato integration added ~$38M to content revenue, accelerating segment growth.
  • ↓Content revenue was $204M, but ex-Envato fell 7% YoY, highlighting e-commerce weakness.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Shutterstock, Inc. (NYSE:SSTK) is a global leader in providing stock imagery, video content, music assets, and data licensing services aimed at creative professionals and businesses. The company is undergoing a significant transformation to strengthen its enterprise offerings while capitalizing on the increasing demand for ethically sourced data, particularly in the rapidly growing fields of generative AI and content creation. With a focus on strategic acquisitions and diverse product offerings, Shutterstock aims to enhance its competitive positioning in the digital content marketplace.

Bull says

  • ↑Q3 2024 revenue hit $251M (+7.4% YoY) with adjusted EBITDA of $70M (28% margin).
  • ↑Envato integration added ~$38M to content revenue, accelerating segment growth.
  • ↑Data Distribution revenue reached $50M (+129% YoY) on rising AI data demand.
  • ↑Free cash flow of $45.7M; repurchased $21M shares and raised dividends 10%.
  • ↑Subscription simplification boosted retention; strong customer uptake of AI content.
  • ↑Strong factor profile: high earnings yield, book-to-price, dividend yield, solid liquidity.

Bear says

  • ↓Content revenue was $204M, but ex-Envato fell 7% YoY, highlighting e-commerce weakness.
  • ↓Getty merger cancellation removes a key growth catalyst and share-gain opportunity.
  • ↓Negative profitability and elevated leverage raise margin and balance-sheet concerns.
  • ↓Negative growth and revision signals point to dimming future performance expectations.
  • ↓Investor skepticism evident in higher short interest, pressuring the stock price.
  • ↓High expectations post-Envato risk valuation correction if growth fails to meet targets.

Investment themes with SSTK

eTailing↑ +0.56%

Online retail and e-commerce platforms

FIGS · LQDT · CVNA

Earnings Call · Q3 2023 · Mgmt. Guidance

Updated 07-04-2026neutral

Transcript signals

Bull points

  • In the third quarter, Shutterstock's data and creative engines fueled faster growth and furthered the transformation of our business.
  • Enterprise demand picked up, and we expect a further acceleration into the fourth quarter.
  • We are seeing stabilization and are executing operationally to drive a recovery in e-commerce over the next several quarters, supported by marketing and product innovation.

Bear points

  • Meanwhile, our e-commerce channel declined 15% on a year-over-year basis in Q3 2023.
  • Reported gross margins declined by just over 1%, driven by higher royalties related to revenue generated through data sales, non-cash M&A amortization, and GIPHY retention compensation.
  • We expect full year marketing spend of 25%, consistent with 2022, as we dial up performance marketing spend in our e-commerce sales channel significantly in the fourth quarter.
Read full transcript analysis ›