Northern, WI 02/07/2013 (wallstreetpr) – Over the past few years, aggressive marketing & mobile tools helped online photo-sharing company Shutterfly Inc. (NASDAQ:SFLY) widens its customer base. This has resulted in the stock reaching the highest figure in as many as three years.
California-based Shutterfly recorded the biggest one-day increase with a gain of 20%. Marketing measures such as ship-to-store agreement with Costco Wholesale Corp.(NASDAQ:COST) will be responsible for as much as 17% rise in annual sales. Shutterfly deals with digital photo sharing, digital photo books and greeting cards.
According to Victor Anthony, an analyst, revenue for Shutterfly is likely to boost up owing due to a consolidation for internet-based photo services in the market.
Shutterfly’s “innovative suite of product offerings” is snatching away share from “profitability-challenged competitors”, he added. Anthony has given a buy rating for the shares. Exceeding the estimates put forth by the analysts, revenue in the fourth quarter increased by 33% to reach $351.8 million. Orders increased by 29% to a figure of $16.3 million. There was also a significant increase in transacting customers.
Jeffrey T. Housenbold, the CEO revealed that most of the new customer growth was “organic” and driven by “integrated marketing campaigns”. In 2012, new clients like the United Health Group were added. Shutterfly’s existing relationships with companies like AT&T Inc. (NYSE:T) and Dell Inc. (NASDAQ:DELL) were further strengthened.
Brian Fitzgerald, a New-York based analyst, suggesting a hold on the stock told that the small enterprise business is growing “rapidly” and “will smooth out their earnings over the year”.
Shutterfly Inc.(NASDAQ:SFLY) shares were increased by 1.77% and currently trading at $41.12.
Costco Wholesale Corp.(NASDAQ:COST) shares were down by 0.29% and currently trading at $101.39.
AT&T Inc.(NYSE:T) shares were down by 0.56% and currently trading at $35.23.
Dell Inc.(NASDAQ:DELL) shares were down by 0.44% and currently trading at $13.46
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