Shutterstock (SSTK) is a technology company that provides quality content and creative workflow solutions internationally. The stock has lost 24.75% over the past month and is currently trading more than 50% below its 52-week high of $128.36, which it hit on October 26, 2021.
SSTK reported mixed first-quarter results. While revenue for the quarter missed the consensus estimate by 1.3%, adjusted EPS beat the Street estimate by 16.3%. The company’s Board of Directors declared a dividend of $0.24 per share of outstanding common stock, payable on June 16, 2022. Also, it recently acquired Pond5 to expand the distribution of its content. So, the stock’s near-term prospects look bright.
