SunTrust Robinson analyst Youssef Squali reiterated a Buy rating on Shutterfly (NASDAQ: SFLY) today and set a price target of $100. The company’s shares opened today at $93.97, close to its 52-week high of $95.72.
Squali commented:
“We maintain our BUY rating to reflect improving core Consumer segment, and the Lifetouch acquisition. Positive momentum in the pace of new product/category launches, running on a restructured platform marks the end of phase one in SFLY’s turnaround, in our view. Embarking on the integration of Lifetouch, while it carries execution risks, marks phase two of management’s growth strategy. Given this deal’s size, strategic rationale and potential for revenue/cost synergies, promising outlook and compelling valuation keep us positive on the stock medium/LT.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 20.6% and a 71.6% success rate. Squali covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Trade Desk Inc, and Alibaba Group.
Shutterfly has an analyst consensus of Moderate Buy, with a price target consensus of $90.67.
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The company has a one-year high of $95.72 and a one-year low of $39.76. Currently, Shutterfly has an average volume of 921.1K.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.
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Shutterfly, Inc. engages in the provision of digital personalized photo products and services. It operates through the Consumer and Shutterfly Business Solutions segments.
