Getty Stock Rises on Monday: What’s Behind the Increase?
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Merger Review Announcement: Getty Images has been informed by the UK's Competition and Markets Authority that its proposed merger with Shutterstock has been referred to a Phase 2 review process.
Company's Response: Getty Images expressed disappointment over the decision, stating it had offered "comprehensive remedies" to avoid the extended review and remains committed to the merger.
Current Stock Performance: Following the announcement, Getty Images shares have shown positive momentum, trading 1.33% higher at $1.90.
Market Context: In contrast, Shutterstock's stock has declined by 9.03%, trading at $22.77 at the time of the report.
Analyst Views on GETY
Wall Street analysts forecast GETY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GETY is 7.00 USD with a low forecast of 7.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 1.300
Low
7.00
Averages
7.00
High
7.00
Current: 1.300
Low
7.00
Averages
7.00
High
7.00
About GETY
Getty Images Holdings, Inc. is a global visual content creator and marketplace company. The Company offers a full range of content solutions to meet the needs of any customer around the globe. Through its Getty Images, iStock and Unsplash brands, websites and application programming interfaces (APIs), the Company serves customers and discovers, purchases and shares visual content from photographers and videographers. The Company covers approximately 160,000 news, sport and entertainment events, providing depth and breadth of coverage. The Company also maintains photographic archives in the world with millions of images dating back to the beginning of photography. It works with approximately 557,000 contributors and more than 320 content partners to deliver a range of content. Its Getty Images, iStock, and Unsplash brands categorize its content and services into three categories: Creative, Editorial, and Other. Its Gettyimages.com offers premium creative content and editorial coverage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
