Brokerages Set Instructure Inc. (INST) Target Price at $25.44
Shares of Instructure Inc. (NYSE:INST) have received an average recommendation of “Buy” from the nine brokerages that are covering the firm. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $25.44.
Several equities research analysts have recently commented on the stock. Jefferies Group lifted their price objective on shares of Instructure from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Saturday, November 5th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $27.00 price objective on shares of Instructure in a research note on Wednesday, November 2nd. Raymond James Financial Inc. reiterated a “market perform” rating and set a $23.00 price objective (down from $30.00) on shares of Instructure in a research note on Tuesday, November 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Instructure in a research note on Wednesday, September 7th.
Shares of Instructure (NYSE:INST) opened at 18.90 on Monday. The firm has a 50-day moving average price of $23.34 and a 200-day moving average price of $21.63. The stock’s market cap is $533.83 million. Instructure has a 52 week low of $13.21 and a 52 week high of $26.92.
Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, October 31st. The company reported ($0.34) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.08. Instructure had a negative net margin of 52.18% and a negative return on equity of 171.74%. The business earned $30.10 million during the quarter, compared to the consensus estimate of $30.28 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. The business’s revenue for the quarter was up 44.3% compared to the same quarter last year. On average, equities analysts anticipate that Instructure will post ($1.62) earnings per share for the current year.
In other Instructure news, major shareholder Epic Venture Fund Iv, Llc sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $26.68, for a total value of $1,067,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua L. Coates acquired 5,500 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was purchased at an average price of $18.80 per share, with a total value of $103,400.00. Following the transaction, the chief executive officer now owns 5,500 shares of the company’s stock, valued at approximately $103,400. The disclosure for this purchase can be found here. Corporate insiders own 62.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of INST. PNC Financial Services Group Inc. purchased a new position in shares of Instructure during the third quarter worth $110,000. American International Group Inc. increased its position in shares of Instructure by 118.3% in the second quarter. American International Group Inc. now owns 6,048 shares of the company’s stock worth $115,000 after buying an additional 3,278 shares during the period. Nationwide Fund Advisors increased its position in shares of Instructure by 97.4% in the second quarter. Nationwide Fund Advisors now owns 6,748 shares of the company’s stock worth $128,000 after buying an additional 3,329 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Instructure during the second quarter worth $162,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Instructure during the third quarter worth $207,000. Institutional investors and hedge funds own 35.27% of the company’s stock.
Instructure, Inc provides cloud-based learning management platform for academic institutions and companies across the world. The Company operates in the cloud-based learning management systems segment. The Company builds its learning management applications, Canvas for the education market and Bridge for the corporate market, to enable its customers to develop, deliver and manage engaging face-to-face and online learning experiences.
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