Shutterfly: In-Line Quarter Likely Ahead Of The Seasonally Strong 4Q
In a research report published this morning, Cantor analyst Youssef Squali assigned a Buy rating on Shutterfly (NASDAQ:SFLY) with a $60 price target, ahead of the company’s earnings.
Squali wrote, “SFLY should report in-line or slightly better-than-expected 3Q results on Wednesday, Sept. 29, driven by healthy organic growth in its consumer print business, amid a relatively unchanged promotional environment (Y/Y). The company’s lack of international exposure is a positive considering a weakening Europe. We note that 3Q is a soft period before the seasonally strong quarter.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a total average return of 28.9% and a 70.2% success rate. Squali has a 40.2% average return when recommending SFLY, and is ranked #3 out of 3347 analysts.