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SFLY $50.97

SFLY target price
50.97
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Shutterfly
Shutterfly.png
Type of business Public
Traded as NASDAQ: SFLY
Founded 1999; 18 years ago (1999)
Headquarters Redwood City, California
Chairman Philip Marineau
President Christopher North
CEO Christopher North
Key people Christopher North (CEO)
Industry photograph-derived manufacture; photo sharing
Slogan(s) Helping Share Life's Joy.
Website Official website
Alexa rank Positive decrease 1,262 (October 2016)

Shutterfly is an American Internet-based image publishing service based in Redwood City, California. Shutterfly's flagship product is its photo book line. The company was founded in 1999 and is currently led by Christopher North. The company went public in 2006. The customer base is heavily skewed toward women, who accounted for 80% of customers as reported in 2013.

Shutterfly's revenue derives from "turning digital snapshots into tangible things".

Shutterfly enables users to create personalized photo gifts (including photos and text) such as smartphone cases, photo books, wall art, and home décor. It competes with Snapfish, an online photo service.

In August 2014, the total number of customers was 2.6 million, reflecting an increase of 13% from the prior-year quarter. Total orders generated were 4.2 million, up 16% year over year. Average order value was $36.14, up 3% year over year driven by promotional strategies and integrated marketing campaigns adopted by the company. Their Q4 2013 earnings grew 17% year-over-year to $410.8 million and resulted in a 12% year-over-year increase in adjusted EBITDA despite a shortened holiday shopping season.

Shutterfly also partnered with Brit Morin, Michelle Workman and Olivia Palermo to showcase how to use their different products within a New York townhouse to create unique design opportunities. The project is called “Shutterfly by Design.”

Its company Tiny Prints has launched “Tiny Prints for iPad” in September 2014; a mobile version of their online stationery boutique the company acquired in 2011.

Shutterfly was founded in December 1999 as an internet-based social expression and personal publishing service. Its corporate headquarters are located in Redwood City, California. The company’s flagship product is its photo book line.

In 2000, Shutterfly partnered with Kodak to offer their customers film developing and scanning services. In 2012, the Shutterfly acquired Kodak Gallery from Eastman Kodak Co. for $23.8 million.

In 2001, Shutterfly secured $3 million in incremental capital which was used to expand its infrastructure. The funds include an equipment financing line from Silicon Valley bank. In 2002, the company exceeded its expected earnings and began considering an IPO for 2004 however, it did not take place until 2006. In September 2006, the completed their initial public offering and their common stock was officially listed on the NASDAQ Global Select Market under the symbol “SFLY."

In 2007 Shutterfly was recognized by Deloitte & Touche as Fast 50 Technology Company for Silicon Valley and a Fast 500 Company for North America. Shutterfly ranked #20 in the Internet, Media & Entertainment and Communication category on the Fast 50 list and ranked #241 on the Fast 500 list. The annual rankings identify technology, media, telecommunications and life sciences companies that have shown the fastest growth over the past year. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002-2006. Shutterfly grew 671 percent during this period.

In 2009, Shutterfly began its acquisition plans with the purchase of Tiny Pictures, a mobile photo-sharing application centered on photo commenting. This is the first of several acquisitions the company made over the next few years. In 2011, Shutterfly acquired Tiny Prints, Inc. and Wedding Paper Divas. In 2013, the company acquired This Life, a cloud-based solution for organizing and sharing photos and videos. Most recently, Shutterfly acquired BorrowLenses, a rental company for high-end photography equipment. In 2014 it opened a new manufacturing facility in Shakopee, Minnesota.

Tiny Prints and Wedding Paper Divas: In March 2011, Shutterfly acquired personalized card and stationery seller Tiny Prints, Inc. and partner-company Wedding Paper Divas for $141 million in cash and 3.9 million shares. The total transaction was valued at $333 million. The company has received multiple celebrity endorsements including Kelly Ripa, Jason Priestley, and Tori Spelling. Their products have also been highlighted on the Rachel Ray Show and in InStyle Magazine. Wedding Paper Divas has been highlighted on ABC News. In September 2014, the company launched “Tiny Prints for iPad” in September 2014; a mobile version of their online stationery boutique the company acquired in 2011

This Life: In 2013, Shutterfly acquired ThisLife, a cloud-based solution for organizing and sharing photos and videos. ThisLife initially launched in 2010 by husband-and-wife team Matt and Andrea Johnson. ThisLife has raised a $2.75 million seed round led by Madrona Venture Group, with Madrona Managing Director Greg Gottesman joining its board. The company was acquired by Shutterfly in January 2013 and the purchase was reported to cost $25 million. ThisLife lets you pull in all your photos from different sources such as social networks, mobile devices, personal computer, or stored online into one place.

Treat: In April 2012, Shutterfly Launched Treat, a service to create completely customized greeting cards. Unlike other divisions of Shutterfly that were acquired, Treat was developed internally. The site has 4,500 fully customizable card designs and has a partnership with Hallmark. In February 2015, Shutterfly announced it would shut down Treat.

BorrowLenses: Mark Gurevich and Max Shevyakov launched BorrowLenses in 2007 as a way for individuals to rent high-level camera equipment and avoid making an expensive purchase. The company delivers to all 50 states and offers over 30 “pick-up” locations at local camera shops in 12 different states. The company has two headquarters in San Carlos, California and Waltham, Massachusetts. In October 2013, Shutterfly acquired BorrowLenses. Terms of the deal weren’t released.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2019 2019-08-07 -0.37 -0.37
Q1 2019 2019-04-25 -2.47 -2.47
Q4 2018 2019-02-05 5.19 5.19
Q3 2018 2018-10-30 -2.20 -2.20

Ratings

2016-07-11 Reiterated Rating Jefferies Group Hold
2016-07-09 Reiterated Rating Cantor Fitzgerald Buy
2016-06-27 Reiterated Rating Needham & Company LLC Buy
2016-06-05 Reiterated Rating Cantor Fitzgerald Buy $52.00
2016-05-22 Reiterated Rating Cantor Fitzgerald Buy
2016-05-01 Reiterated Rating Needham & Company LLC Buy $50.00 to $55.00
2016-04-28 Boost Price Target Barclays Equal Weight $40.00 to $45.00
2016-04-28 Boost Price Target Goldman Sachs Neutral $40.00 to $45.00
2016-04-28 Reiterated Rating RBC Capital Outperform $48.00 to $52.00
2016-04-28 Reiterated Rating Cantor Fitzgerald Buy $52.00
2016-04-28 Boost Price Target Barclays PLC Equal Weight $40.00 to $45.00
2016-04-28 Boost Price Target Goldman Sachs Group Inc. Neutral $40.00 to $45.00
2016-04-28 Reiterated Rating Royal Bank Of Canada Outperform $48.00 to $52.00
2016-03-24 Reiterated Rating RBC Capital Buy $48.00
2016-03-19 Reiterated Rating Robert W. Baird Buy
2016-03-19 Reiterated Rating Axiom Securities Buy $51.00
2016-03-18 Reiterated Rating Needham & Company LLC Buy $50.00
2016-02-19 Reiterated Rating Axiom Securities Buy $49.00 to $51.00
2016-02-08 Reiterated Rating Jefferies Hold $47.00 to $46.00
2016-02-08 Reiterated Rating Jefferies Group Hold $47.00 to $46.00
2016-02-04 Reiterated Rating Robert W. Baird Buy
2016-02-04 Lower Price Target Craig Hallum Buy $52.00
2016-02-04 Reiterated Rating Axiom Securities Buy $52.00 to $49.00
2016-02-04 Lower Price Target Barclays Equal Weight $44.00 to $40.00
2016-02-04 Lower Price Target Jefferies Group Hold $47.00 to $46.00
2016-02-04 Downgrade Bank of America Buy to Neutral $44.00
2016-02-04 Lower Price Target Needham & Company LLC Buy $55.00 to $50.00
2016-02-04 Downgrade Bank of America Corp. Buy to Neutral $44.00
2016-02-01 Lower Price Target RBC Capital Outperform $52.00 to $48.00
2016-02-01 Reiterated Rating Cantor Fitzgerald Buy $58.00
2015-12-02 Reiterated Rating Needham & Company LLC Buy $55.00
2015-12-02 Reiterated Rating Cantor Fitzgerald Buy $58.00
2015-12-02 Reiterated Rating Robert W. Baird Outperform $55.00
2015-11-26 Initiated Coverage Topeka Capital Markets Hold
2015-11-17 Reiterated Rating Axiom Securities Buy $52.00
2015-11-01 Reiterated Rating Axiom Securities Buy $52.00
2015-10-29 Reiterated Rating RBC Capital Outperform $52.00
2015-10-28 Lower Price Target Barclays Equal Weight $48.00 to $44.00
2015-10-28 Reiterated Rating Robert W. Baird Outperform $55.00
2015-10-23 Reiterated Rating RBC Capital Buy
2015-09-15 Reiterated Rating Robert W. Baird Outperform $55.00
2015-09-09 Reiterated Rating RBC Capital Outperform $52.00
2015-08-28 Reiterated Rating Axiom Securities Buy $52.00
2015-08-13 Lower Price Target Axiom Securities Buy $54.00 to $52.00
2015-07-31 Reiterated Rating Bank of America Buy $53.00
2015-07-30 Reiterated Rating Barclays Equal Weight $44.00 to $48.00
2015-07-30 Downgrade Raymond James Outperform to Market Perform
2015-07-30 Downgrade Raymond James Financial Inc. Outperform to Market Perform
2015-07-27 Reiterated Rating RBC Capital Outperform $52.00
2015-07-27 Reiterated Rating Cantor Fitzgerald Buy $59.00
2015-07-14 Reiterated Rating Axiom Securities Buy $54.00
2015-06-16 Reiterated Rating RBC Capital Outperform $52.00
2015-06-15 Reiterated Rating Axiom Securities Buy $54.00
2015-06-15 Reiterated Rating Cantor Fitzgerald Buy $59.00
2015-05-31 Reiterated Rating Axiom Securities Buy $54.00
2015-04-30 Reiterated Rating RBC Capital Outperform $51.00 to $52.00
2015-04-30 Boost Price Target Jefferies Group Hold $48.00 to $50.00
2015-04-30 Lower Price Target Needham & Company LLC Buy $58.00 to $55.00
2015-04-30 Lower Price Target Axiom Securities Buy $58.00 to $54.00
2015-04-28 Boost Price Target Cantor Fitzgerald Buy $58.00 to $59.00
2015-04-22 Reiterated Rating RBC Capital Outperform $51.00
2015-04-14 Set Price Target Cantor Fitzgerald Buy $58.00
2015-03-18 Initiated Coverage Axiom Securities Buy $58.00
2015-02-09 Reiterated Rating RBC Capital Outperform $53.00
2015-02-09 Set Price Target Cantor Fitzgerald Buy $58.00
2014-12-23 Set Price Target Cantor Fitzgerald Buy $58.00
2014-12-16 Downgrade Goldman Sachs Buy to Neutral
2014-11-18 Boost Price Target Jefferies Group Hold $47.00 to $48.00
2014-10-30 Reiterated Rating Barclays Equal Weight $48.00 to $42.00
2014-10-30 Lower Price Target RBC Capital Outperform $60.00 to $53.00
2014-10-30 Lower Price Target Needham & Company LLC Buy $62.00 to $58.00
2014-10-30 Lower Price Target Topeka Capital Markets Buy $58.00 to $57.00
2014-05-01 Reiterated Rating Raymond James Outperform $53.00
2014-04-11 Upgrade Goldman Sachs Neutral to Buy $47.00 to $52.00
2014-03-18 Downgrade Cowen and Company Outperform to Underperform $57.00 to $39.00
2014-02-06 Lower Price Target Cantor Fitzgerald $62.00 to $60.00
2014-01-13 Downgrade Barclays Overweight to Equal Weight $62.00 to $50.00
2014-01-13 Initiated Coverage RBC Capital Outperform $64.00
2013-10-30 Boost Price Target Raymond James Outperform $57.00 to $60.00
2013-10-30 Lower Price Target Jefferies Group Hold $58.00 to $53.00
2013-02-06 Reiterated Cantor Fitzgerald Buy $35 to $44
2013-01-22 Downgrade Monness Crespi & Hardt Buy to Neutral
2012-10-10 Upgrade Cantor Fitzgerald Hold to Buy $33
2011-01-05 Initiated Canaccord Genuity Hold $36
2009-12-10 Upgrade Janney Mntgmy Scott Neutral to Buy
2008-10-30 Reiterated Cantor Fitzgerald Buy $16 to $12
2008-07-31 Reiterated Canaccord Adams Hold $16 to $10.75
2016-07-11 Reiterated Rating Jefferies Group Hold
2016-07-09 Reiterated Rating Cantor Fitzgerald Buy
2016-06-27 Reiterated Rating Needham & Company LLC Buy
2016-06-05 Reiterated Rating Cantor Fitzgerald Buy $52.00
2016-05-22 Reiterated Rating Cantor Fitzgerald Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
HOUSENBOLD JEFFREY T President & CEO 0.67%  (259510) CHGG / CZR / GRPN / SFLY /
REGAN BRIAN M SVP, Chief Financial Officer 0.23%  (88279) DMD / SFLY /
SCHOENDORF NANCY J 0.20%  (78851) SFLY /
McCormick Dan SVP, General Manager 0.16%  (62608) SFLY /
MARINEAU PHILIP A 0.15%  (57655) MDP / SFLY /
Navin Peter SVP, Human Resources 0.07%  (28500) SFLY /
KELLER ERIC J 0.07%  (27915) SFLY /
WHITE JAMES N 0.07%  (25731) CORT / CRDC / MATR / SFLY / THLD /
Manca Brian VP, Chief Accounting Officer 0.07%  (25536) SFLY /
Swette Brian 0.07%  (25260) CRCM / JMBA / SFLY /
MENON SATISH SVP, Chief Technology Officer 0.06%  (25000) SFLY /
LAYNEY TRACY SVP, Chief HR Officer 0.06%  (21750) SFLY /
LANSING WILLIAM J 0.06%  (21510) FICO / SFLY /
Black Dwayne A SVP, Operations 0.05%  (19535) SFLY /
ZEISSER MICHAEL P 0.05%  (17656) SFLY / TIME / XOXO /
KILLEEN STEPHEN J 0.04%  (15332) SFLY /
North Christopher President & CEO 0.03%  (12394) SFLY /
BORIS JOHN SVP, Chief Marketing Officer 0.03%  (12344) SFLY /
HUGHES THOMAS DAVID 0.02%  (6060) SFLY /
MATHER ANN 0.01%  (5363) GLUU / GOOGL / MGI / NFLX / SFLY / SZYM /
RAFAEL BETSY 0.01%  (3986) ADSK / ELON / SFLY /
Manolis Eva 0.01%  (3046) FICO / SFLY /
Sartain Elizabeth P 0.01%  (2293) MAN / SFLY /
STANSBURY HENRY TAYLOE 0.01%  (2085) INTU / SFLY /