Intrinsic value of Shutterstock - SSTK

Previous Close

$38.14

  Intrinsic Value

$41.07

stock screener

  Rating & Target

hold

+8%

Previous close

$38.14

 
Intrinsic value

$41.07

 
Up/down potential

+8%

 
Rating

hold

We calculate the intrinsic value of SSTK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  16.90
  15.71
  14.64
  13.68
  12.81
  12.03
  11.32
  10.69
  10.12
  9.61
  9.15
  8.73
  8.36
  8.02
  7.72
  7.45
  7.21
  6.98
  6.79
  6.61
  6.45
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
Revenue, $m
  651
  754
  864
  982
  1,108
  1,241
  1,382
  1,529
  1,684
  1,846
  2,015
  2,191
  2,374
  2,564
  2,763
  2,968
  3,182
  3,404
  3,636
  3,876
  4,126
  4,386
  4,656
  4,938
  5,232
  5,538
  5,858
  6,191
  6,539
  6,903
Variable operating expenses, $m
  588
  679
  776
  881
  992
  1,109
  1,233
  1,364
  1,501
  1,644
  1,779
  1,935
  2,097
  2,265
  2,440
  2,622
  2,810
  3,007
  3,211
  3,423
  3,644
  3,873
  4,112
  4,361
  4,621
  4,891
  5,173
  5,468
  5,775
  6,096
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  588
  679
  776
  881
  992
  1,109
  1,233
  1,364
  1,501
  1,644
  1,779
  1,935
  2,097
  2,265
  2,440
  2,622
  2,810
  3,007
  3,211
  3,423
  3,644
  3,873
  4,112
  4,361
  4,621
  4,891
  5,173
  5,468
  5,775
  6,096
Operating income, $m
  63
  75
  88
  101
  116
  132
  148
  165
  183
  202
  235
  256
  277
  300
  323
  347
  372
  398
  425
  453
  482
  512
  544
  577
  611
  647
  684
  723
  764
  807
EBITDA, $m
  105
  122
  139
  159
  179
  200
  223
  247
  272
  298
  325
  354
  383
  414
  446
  479
  514
  550
  587
  626
  666
  708
  752
  797
  845
  894
  946
  1,000
  1,056
  1,114
Interest expense (income), $m
  0
  0
  2
  5
  8
  11
  14
  17
  21
  25
  29
  33
  37
  42
  46
  51
  56
  62
  67
  73
  79
  85
  91
  98
  105
  112
  119
  127
  135
  144
  153
Earnings before tax, $m
  63
  72
  83
  94
  105
  118
  131
  144
  159
  174
  203
  219
  236
  253
  272
  291
  310
  331
  352
  374
  397
  421
  446
  472
  499
  528
  557
  588
  620
  654
Tax expense, $m
  17
  20
  22
  25
  28
  32
  35
  39
  43
  47
  55
  59
  64
  68
  73
  78
  84
  89
  95
  101
  107
  114
  120
  128
  135
  142
  150
  159
  167
  177
Net income, $m
  46
  53
  60
  68
  77
  86
  95
  105
  116
  127
  148
  160
  172
  185
  198
  212
  226
  241
  257
  273
  290
  308
  326
  345
  365
  385
  407
  429
  453
  477

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  667
  771
  884
  1,005
  1,134
  1,270
  1,414
  1,565
  1,724
  1,889
  2,062
  2,242
  2,430
  2,625
  2,828
  3,038
  3,257
  3,485
  3,721
  3,967
  4,223
  4,489
  4,766
  5,054
  5,355
  5,669
  5,996
  6,337
  6,693
  7,065
Adjusted assets (=assets-cash), $m
  667
  771
  884
  1,005
  1,134
  1,270
  1,414
  1,565
  1,724
  1,889
  2,062
  2,242
  2,430
  2,625
  2,828
  3,038
  3,257
  3,485
  3,721
  3,967
  4,223
  4,489
  4,766
  5,054
  5,355
  5,669
  5,996
  6,337
  6,693
  7,065
Revenue / Adjusted assets
  0.976
  0.978
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
  0.977
Average production assets, $m
  145
  168
  193
  219
  247
  277
  308
  341
  376
  412
  449
  489
  529
  572
  616
  662
  710
  759
  811
  864
  920
  978
  1,038
  1,101
  1,167
  1,235
  1,306
  1,381
  1,458
  1,539
Working capital, $m
  -186
  -215
  -246
  -280
  -316
  -354
  -394
  -436
  -480
  -526
  -574
  -624
  -677
  -731
  -787
  -846
  -907
  -970
  -1,036
  -1,105
  -1,176
  -1,250
  -1,327
  -1,407
  -1,491
  -1,578
  -1,669
  -1,764
  -1,864
  -1,967
Total debt, $m
  45
  93
  145
  201
  261
  324
  390
  460
  533
  610
  690
  773
  859
  949
  1,043
  1,140
  1,242
  1,347
  1,456
  1,570
  1,688
  1,811
  1,939
  2,072
  2,211
  2,356
  2,507
  2,664
  2,829
  3,001
Total liabilities, $m
  308
  356
  409
  464
  524
  587
  653
  723
  796
  873
  953
  1,036
  1,123
  1,213
  1,306
  1,404
  1,505
  1,610
  1,719
  1,833
  1,951
  2,074
  2,202
  2,335
  2,474
  2,619
  2,770
  2,928
  3,092
  3,264
Total equity, $m
  359
  415
  476
  541
  610
  683
  761
  842
  927
  1,016
  1,109
  1,206
  1,307
  1,412
  1,521
  1,635
  1,752
  1,875
  2,002
  2,134
  2,272
  2,415
  2,564
  2,719
  2,881
  3,050
  3,226
  3,409
  3,601
  3,801
Total liabilities and equity, $m
  667
  771
  885
  1,005
  1,134
  1,270
  1,414
  1,565
  1,723
  1,889
  2,062
  2,242
  2,430
  2,625
  2,827
  3,039
  3,257
  3,485
  3,721
  3,967
  4,223
  4,489
  4,766
  5,054
  5,355
  5,669
  5,996
  6,337
  6,693
  7,065
Debt-to-equity ratio
  0.120
  0.220
  0.310
  0.370
  0.430
  0.470
  0.510
  0.550
  0.570
  0.600
  0.620
  0.640
  0.660
  0.670
  0.690
  0.700
  0.710
  0.720
  0.730
  0.740
  0.740
  0.750
  0.760
  0.760
  0.770
  0.770
  0.780
  0.780
  0.790
  0.790
Adjusted equity ratio
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  46
  53
  60
  68
  77
  86
  95
  105
  116
  127
  148
  160
  172
  185
  198
  212
  226
  241
  257
  273
  290
  308
  326
  345
  365
  385
  407
  429
  453
  477
Depreciation, amort., depletion, $m
  42
  47
  52
  57
  63
  69
  75
  81
  88
  96
  90
  98
  106
  114
  123
  132
  142
  152
  162
  173
  184
  196
  208
  220
  233
  247
  261
  276
  292
  308
Funds from operations, $m
  88
  100
  112
  125
  140
  155
  170
  187
  204
  222
  238
  257
  278
  299
  321
  344
  368
  393
  419
  446
  474
  503
  533
  565
  598
  632
  668
  705
  744
  785
Change in working capital, $m
  -27
  -29
  -31
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -63
  -66
  -68
  -71
  -74
  -77
  -80
  -84
  -87
  -91
  -95
  -99
  -104
Cash from operations, $m
  115
  129
  144
  159
  175
  192
  210
  229
  248
  268
  286
  308
  330
  354
  378
  403
  429
  457
  485
  515
  545
  577
  611
  645
  682
  720
  759
  800
  844
  889
Maintenance CAPEX, $m
  -25
  -29
  -34
  -39
  -44
  -49
  -55
  -62
  -68
  -75
  -82
  -90
  -98
  -106
  -114
  -123
  -132
  -142
  -152
  -162
  -173
  -184
  -196
  -208
  -220
  -233
  -247
  -261
  -276
  -292
New CAPEX, $m
  -21
  -23
  -25
  -26
  -28
  -30
  -31
  -33
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -60
  -63
  -66
  -68
  -71
  -74
  -78
  -81
Cash from investing activities, $m
  -46
  -52
  -59
  -65
  -72
  -79
  -86
  -95
  -103
  -111
  -120
  -129
  -139
  -148
  -158
  -169
  -180
  -192
  -204
  -216
  -229
  -242
  -256
  -271
  -286
  -301
  -318
  -335
  -354
  -373
Free cash flow, $m
  69
  77
  85
  94
  104
  113
  124
  134
  146
  157
  166
  178
  192
  205
  219
  234
  249
  265
  282
  299
  317
  335
  355
  375
  396
  418
  441
  465
  490
  516
Issuance/(repayment) of debt, $m
  45
  48
  52
  56
  59
  63
  66
  70
  73
  77
  80
  83
  87
  90
  94
  97
  101
  105
  109
  114
  118
  123
  128
  133
  139
  145
  151
  158
  165
  172
Issuance/(repurchase) of shares, $m
  6
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  51
  52
  52
  56
  59
  63
  66
  70
  73
  77
  80
  83
  87
  90
  94
  97
  101
  105
  109
  114
  118
  123
  128
  133
  139
  145
  151
  158
  165
  172
Total cash flow (excl. dividends), $m
  119
  129
  138
  150
  163
  176
  190
  204
  219
  234
  246
  262
  278
  295
  313
  331
  350
  370
  391
  412
  435
  458
  483
  508
  535
  563
  592
  622
  654
  688
Retained Cash Flow (-), $m
  -52
  -56
  -61
  -65
  -69
  -73
  -77
  -81
  -85
  -89
  -93
  -97
  -101
  -105
  -109
  -113
  -118
  -122
  -127
  -132
  -138
  -143
  -149
  -155
  -162
  -169
  -176
  -184
  -192
  -200
Prev. year cash balance distribution, $m
  8
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  76
  73
  77
  85
  94
  103
  113
  123
  134
  145
  153
  165
  177
  190
  204
  218
  233
  248
  264
  280
  297
  315
  334
  353
  373
  394
  416
  439
  463
  488
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  72
  66
  67
  70
  73
  75
  76
  77
  77
  76
  73
  70
  67
  64
  60
  55
  51
  46
  41
  36
  31
  26
  22
  18
  15
  11
  9
  7
  5
  4
Current shareholders' claim on cash, %
  99.6
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3

Shutterstock, Inc. (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company's library of content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery. It also offers digital asset management services through its cloud-based digital asset management platform (webdam). Its global marketplace brings together users and contributors of content by providing a collection of content its customers can pay to license and incorporate into their work and by compensating contributors as their content is licensed to customers.

FINANCIAL RATIOS  of  Shutterstock (SSTK)

Valuation Ratios
P/E Ratio 40.2
Price to Sales 2.7
Price to Book 4.6
Price to Tangible Book
Price to Cash Flow 13.1
Price to Free Cash Flow 21.8
Growth Rates
Sales Growth Rate 16.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 185.7%
Cap. Spend. - 3 Yr. Gr. Rate 23.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 6.8%
Ret/ On Assets - 3 Yr. Avg. 6%
Return On Total Capital 11.5%
Ret/ On T. Cap. - 3 Yr. Avg. 9.7%
Return On Equity 11.5%
Return On Equity - 3 Yr. Avg. 9.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 58.9%
Gross Margin - 3 Yr. Avg. 59.4%
EBITDA Margin 13.2%
EBITDA Margin - 3 Yr. Avg. 12.9%
Operating Margin 9.1%
Oper. Margin - 3 Yr. Avg. 10.2%
Pre-Tax Margin 9.1%
Pre-Tax Margin - 3 Yr. Avg. 9.6%
Net Profit Margin 6.7%
Net Profit Margin - 3 Yr. Avg. 6%
Effective Tax Rate 26.7%
Eff/ Tax Rate - 3 Yr. Avg. 36.6%
Payout Ratio 0%

SSTK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SSTK stock intrinsic value calculation we used $557.111 million for the last fiscal year's total revenue generated by Shutterstock. The default revenue input number comes from 0001 income statement of Shutterstock. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SSTK stock valuation model: a) initial revenue growth rate of 16.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SSTK is calculated based on our internal credit rating of Shutterstock, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Shutterstock.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SSTK stock the variable cost ratio is equal to 90.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SSTK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Shutterstock.

Corporate tax rate of 27% is the nominal tax rate for Shutterstock. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SSTK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SSTK are equal to 22.3%.

Life of production assets of 5 years is the average useful life of capital assets used in Shutterstock operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SSTK is equal to -28.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $314.585 million for Shutterstock - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.964 million for Shutterstock is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Shutterstock at the current share price and the inputted number of shares is $1.3 billion.

RELATED COMPANIES Price Int.Val. Rating
DLB Dolby Laborato 68.08 48.19  sell
TRI Thomson Reuter 47.93 41.82  hold
ADBE Adobe Systems 235.22 239.44  hold
DISCA Discovery Seri 31.92 1,855.95  str.buy

COMPANY NEWS

▶ Cost Controls Pay Off for Shutterstock   [08:31AM  Motley Fool]
▶ Shutterstock: 3Q Earnings Snapshot   [07:23AM  Associated Press]
▶ Q3 Earnings Preview For Shutterstock   [Oct-29-18 02:26PM  Benzinga]
▶ Why Shutterstock Inc (NYSE:SSTK) Could Be A Buy   [Aug-29-18 02:54PM  Simply Wall St.]
▶ Here's What Made Shutterstock Lose Money   [Aug-01-18 09:01PM  Motley Fool]
▶ Shutterstock: 2Q Earnings Snapshot   [07:23AM  Associated Press]
▶ Shutterstock Launches Ireland Office   [Jun-12-18 10:24AM  PR Newswire]
▶ Summer Travel: The Best Places to Visit in the U.S.   [May-26-18 07:24AM  TheStreet.com]
▶ Why Shutterstock, Inc. Shares Lost 13% Last Month   [May-11-18 02:22PM  Motley Fool]
▶ Shutterstock Sees Mixed Performance After Webdam Sale   [Apr-26-18 11:17AM  Motley Fool]
▶ Shutterstock: 1Q Earnings Snapshot   [07:36AM  Associated Press]
▶ Shutterstock to Present at Upcoming Investor Conferences   [Apr-18-18 04:05PM  PR Newswire]
▶ Shutterstock Expands Leadership Team   [Mar-13-18 09:00AM  PR Newswire]
▶ The Worst States to Retire In   [Feb-23-18 06:58AM  TheStreet.com]
▶ Shutterstock Takes a Bottom-Line Hit   [10:32AM  Motley Fool]
▶ Shutterstock misses 4Q profit forecasts   [07:23AM  Associated Press]
▶ [$$] Frieze art fair to open in Los Angeles   [Feb-21-18 09:33PM  Financial Times]
▶ Bynder Announces Strategic Acquisition of Webdam for $49.1m   [Feb-16-18 07:01AM  GlobeNewswire]
▶ Everything You Need to Know about Kodak's KODAKCoin   [Jan-10-18 07:30PM  Motley Fool]
▶ Stocks With Rising Relative Strength: Shutterstock   [Jan-04-18 03:00AM  Investor's Business Daily]
▶ Shutterstock Earns RS Rating Upgrade   [Dec-27-17 03:00AM  Investor's Business Daily]
▶ Cramers Exec Cut: The Apple effect   [Nov-03-17 07:05PM  CNBC Videos]
▶ Cramer Remix: How Under Armour could turn around   [Oct-31-17 07:09PM  CNBC Videos]
▶ Why Shutterstock Inc Shares Popped Today   [01:13PM  Motley Fool]
▶ Shutterstock Invests for the Future   [10:59AM  Motley Fool]
▶ Shutterstock tops Street 3Q forecasts   [07:19AM  Associated Press]
▶ [$$] FirstMark Names Catherine Ulrich Managing Director   [Oct-05-17 02:28PM  The Wall Street Journal]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.