Shutterfly Up 16.4% After Hitting 52-Week High (SFLY)

Shares of Redwood City, California-based Shutterfly, Inc. SFLY are currently up 16.4% at $39.95 per share during Thursday morning trading. Today's trading range for shares of Shutterfly, Inc has been between $38.60 and a 52-week high of $40.50 per share. The consensus price target of analysts covering the company's stock is $36.82 per share. Volume of 1.4 million shares is already far above the daily average volume of 237,000 shares. Shutterfly, Inc. (SFLY) released financial results Wednesday after the market closed that beat Wall Street estimates. Shutterfly, Inc reported 4th quarter adjusted earnings of $1.18 per share, on revenue of $166.2 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 95 cents per share, on revenue of $154.46 million. President and Chief Executive Officer Jeffrey Housenbold said, "We continue to outpace the industry in terms of innovation, user experience, on-trend designs, quality, and customer service. With the social expression and personal publishing markets still in the early stages, Shutterfly will focus on extending our leadership position in these large markets throughout 2011." Shutterfly, Inc is an Internet-based social expression and personal publishing service. Shutterfly provides high quality products and world class services that make it easy, convenient and fun for consumers to preserve their digital photos in a creative and thoughtful manner. Read more from Benzinga's Company news.