SFLY
Shutterfly, Inc.
TMT, Consumer
01/26/2015
Presented
| Date | 01/22/2015 |
| Price | $44.53 |
| Market Cap | $1.73B |
| Ent Value | $1.73B |
| P/E Ratio | N/A |
| Book Value | $17.98 |
| Div Yield | N/A |
| Shares O/S | 38.75M |
| Ave Daily Vol | 640,000 |
| Short Int | 11.47% |
Current
| Price | no data |
| Market Cap | no data |
| Shutterfly, Inc. is engaged in the manufacture and retail of digital personalized products and services in the United States. It offers a range of personalized photo-based products and services for consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories. The company also provides sells photo books, greeting and stationery cards, and personalized calendars, as well as other photo-based merchandise, including calendars, mugs, canvas prints, mouse pads, magnets, iPhone cases, desktop plaques, and puzzles; and photo prints. In addition, it develops an iPhone application that allows users to access their photos from iPhones, or their Facebook or Instagram accounts, and create customized products and gifts from their mobile devices, as well as a photo book making software; and provides cloud-based services for protecting, organizing, storing, and sharing photos and videos. Further, the company develops technologies for photo ranking, analysis, and organization, which allows customers to organize and select the best photos from their archives for createing photo books, calendars, cards, and photo gifts; and operates tinyprints.com and weddingpaperdivas.com that offer cards, invitations, and personalized stationery, as well as BorrowLenses, an online marketplace for photographic and video equipment rentals. The company offers its products and services under the Shutterfly, Tiny Prints, Wedding Paper Divas Treat, ThisLife, MyPublisher and BorrowLenses brands. Shutterfly, Inc. was founded in 1999 and is headquartered in Redwood City, California. |
Publicly traded companies mentioned herein: Shutterfly (SFLY), Amazon (AMZN), HP (HPQ)
Highlights
Shutterfly has been a popular short recently on the perception is that it is a struggling company with declining revenues and margins, but the presenter believes the market is misunderstanding the trajectory of the business. The company sells into a big market, with a TAM of about $32 billion, of which only an approximate 10% is online penetrated. Concerns about SFLY’s capacity utilization are overdone, in the presenter’s estimation, as the company is generating incremental dollars off its fixed cost structure.
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