Shutterstock price target lowered to $56 from $65 at Truist

Truist analyst Youssef Squali lowered the firm’s price target on Shutterstock (SSTK) to $56 from $65 and keeps a Buy rating on the shares. The company’s Q3 results were “better” while its FY24 outlook reflects good execution across Content and Data, Distribution, and Services segments, though its Data Licensing performance is “lumpy”, the analyst tells investors in a research note.