Seeking Alpha

Shutterfly (SFLY) has nearly quintupled its annual revenue from $123 million in 2006 to $598 million in 2012. It is the undisputed leader in monetizing a very powerful trend: online, photo-related printing and sharing. Additionally, it holds between a 51% and 52% market share in this burgeoning online retail market.

Despite these facts, the stock has fallen 58% from its 2011 highs. Currently, the stock price sits at roughly $28 per share, just $13 over its IPO price of $15 back in 2006. Why the fall from grace? Shutterfly has definitely proven its ability to grow revenue. The price retreat represents a temporary lull in faith. This pause is not just due to Wall Street's horrible understanding...

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