Shutterstock price target lowered to $50 from $58 at Morgan Stanley

Morgan Stanley analyst Brian Nowak lowered the firm’s price target on Shutterstock (SSTK) to $50 from $58 and keeps an Equal Weight rating on the shares. While momentum remains “strong” in the fast-growing data business, which the firm says remains the company’s key driver of growth, the firm looks for signs of stabilization in Content revenue, which is declining but contributed 79% of last twelve months sales, as “the key gating factor to value creation from here.”