Shutterstock, Inc.

DB:S3T Stock Report

Market Cap: €1.0b

Shutterstock Valuation

Is S3T undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of S3T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: S3T (€29.23) is trading below our estimate of fair value (€89)

Significantly Below Fair Value: S3T is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S3T?

Key metric: As S3T is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for S3T. This is calculated by dividing S3T's market cap by their current earnings.
What is S3T's PE Ratio?
PE Ratio30.8x
EarningsUS$36.36m
Market CapUS$1.08b

Price to Earnings Ratio vs Peers

How does S3T's PE Ratio compare to its peers?

The above table shows the PE ratio for S3T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.9x
NWO New Work
30.7x32.3%€367.6m
G24 Scout24
35.2x14.8%€6.2b
YOC YOC
14.7x20.1%€55.6m
M8G Verve Group
15x22.0%€762.2m
S3T Shutterstock
30.8x29.8%€1.1b

Price-To-Earnings vs Peers: S3T is expensive based on its Price-To-Earnings Ratio (30.8x) compared to the peer average (23.9x).

Price to Earnings Ratio vs Industry

How does S3T's PE Ratio compare vs other companies in the European Interactive Media and Services Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
S3T 30.8xIndustry Avg. 16.0xNo. of Companies6PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: S3T is expensive based on its Price-To-Earnings Ratio (30.8x) compared to the European Interactive Media and Services industry average (16.3x).

Price to Earnings Ratio vs Fair Ratio

What is S3T's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

S3T PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.8x
Fair PE Ratio21.7x

Price-To-Earnings vs Fair Ratio: S3T is expensive based on its Price-To-Earnings Ratio (30.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst S3T forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€29.23
€44.43
+52.0%
20.0%€51.56€29.47n/a4
Nov ’25€29.11
€44.43
+52.6%
20.0%€51.56€29.47n/a4
Oct ’25€31.21
€48.72
+56.1%
20.9%€59.47€32.02n/a4
Sep ’25€31.54
€48.72
+54.5%
20.9%€59.47€32.02n/a4
Aug ’25€40.49
€54.01
+33.4%
15.7%€59.90€37.79n/a5
Jul ’25€34.64
€53.88
+55.5%
16.0%€60.38€38.08n/a5
Jun ’25€37.48
€53.88
+43.7%
16.0%€60.38€38.08n/a5
May ’25€39.70
€53.27
+34.2%
17.6%€64.51€36.86n/a5
Apr ’25€42.40
€53.27
+25.6%
17.6%€64.51€36.86n/a5
Mar ’25€44.80
€53.27
+18.9%
17.6%€64.51€36.86n/a5
Feb ’25€43.12
€55.72
+29.2%
24.0%€77.89€36.66n/a5
Jan ’25€43.62
€55.72
+27.7%
24.0%€77.89€36.66n/a5
Dec ’24€39.90
€55.72
+39.6%
24.0%€77.89€36.66n/a5
Nov ’24€35.22
€61.52
+74.7%
25.1%€81.44€37.85€29.116
Oct ’24€35.04
€78.73
+124.7%
6.3%€86.10€70.82€31.215
Sep ’24€38.52
€77.61
+101.5%
6.3%€84.87€69.81€31.545
Aug ’24€48.16
€77.95
+61.9%
2.8%€81.95€75.57€40.495
Jul ’24€44.02
€80.24
+82.3%
2.3%€82.81€77.29€34.645
Jun ’24€46.18
€81.50
+76.5%
2.2%€83.98€78.38€37.486
May ’24€59.30
€79.39
+33.9%
2.2%€81.57€76.13€39.705
Apr ’24€65.38
€80.90
+23.7%
2.7%€84.28€78.66€42.405
Mar ’24€70.20
€80.90
+15.2%
2.7%€84.28€78.66€44.805
Feb ’24€70.00
€64.07
-8.5%
18.1%€81.30€45.49€43.125
Jan ’24€48.94
€64.07
+30.9%
18.1%€81.30€45.49€43.625
Dec ’23€51.08
€64.07
+25.4%
18.1%€81.30€45.49€39.905
Nov ’23€50.28
€68.11
+35.5%
18.9%€89.27€46.62€35.226

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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