Shutterfly’s Shares Will Continue To Trade, In-Part, On Take-Out Speculation, Says Topeka
In a research note published today, Topeka Capital analyst Victor Anthony maintained a Buy rating on Shutterfly Inc. (NASDAQ:SFLY) with a price target of $58.00, as intra-quarter checks are positive.
Anthony noted, “We have been tracking Shutterfly and competitor promotions and search engine rankings on a weekly basis since 2012 to spot changes in the environment that could have an impact on Shutterfly’s operating results. Our tracking of promotions and search engine rankings thus far this quarter continue to show a positive operating environment for Shutterfly. The promotional environment looks good with no discernible difference in promos from Shutterfly and competitors and search engine rankings for Shutterfly looks solid on both paid and unpaid ads. SFLY typically outperforms guidance and consensus estimates during positive operating environments. Shutterfly’s shares will continue to trade, in-part, on take-out speculation, which has not been confirmed nor denied to us by the company.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 19.8% and a 76.6% success rate. Anthony has a -3.0% average return when recommending SFLY, and is ranked #33 out of 3243 analysts.