Instructure, Inc. (NYSE:INST) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Instructure, Inc. (NYSE:INST) from a hold rating to a buy rating in a report published on Tuesday. They currently have $33.00 price target on the technology company’s stock.
According to Zacks, “Instructure, Inc. provides cloud-based online education technology. It develops Canvas, a learning management application for the education market and Bridge, for the corporate market, to enable its customers to develop, deliver and manage face-to-face and online learning experiences. The company’s platform also provides data analytics that enable real-time reaction to information and benchmarking in order to personalize curricula and increase the efficacy of the learning process. Instructure, Inc. is based in Salt Lake City, Utah. “
A number of other analysts have also issued reports on INST. Needham & Company LLC lifted their price target on shares of Instructure from $28.00 to $33.00 and gave the stock a strong-buy rating in a research note on Tuesday, May 2nd. Jefferies Group LLC lifted their price target on shares of Instructure from $27.00 to $30.00 and gave the stock a buy rating in a research note on Tuesday, May 2nd. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $30.00 price target (up previously from $27.00) on shares of Instructure in a research note on Thursday, May 4th. ValuEngine upgraded shares of Instructure from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, SunTrust Banks, Inc. started coverage on shares of Instructure in a research note on Monday, June 26th. They issued a buy rating and a $33.00 price target for the company. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Instructure currently has a consensus rating of Buy and a consensus price target of $35.63.
Instructure (INST) opened at 29.70 on Tuesday. The firm’s market cap is $872.56 million. Instructure has a 12-month low of $17.85 and a 12-month high of $34.10. The firm’s 50-day moving average is $30.20 and its 200 day moving average is $25.69.
Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $38 million during the quarter, compared to analyst estimates of $37.09 million. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The business’s revenue was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. Equities research analysts predict that Instructure will post ($1.24) EPS for the current year.
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In other Instructure news, EVP Marc T. Maloy sold 2,000 shares of Instructure stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $29.11, for a total value of $58,220.00. Following the completion of the transaction, the executive vice president now owns 13,272 shares of the company’s stock, valued at $386,347.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven A. Collins sold 3,000 shares of Instructure stock in a transaction on Monday, August 7th. The stock was sold at an average price of $30.64, for a total transaction of $91,920.00. Following the completion of the transaction, the director now directly owns 6,552 shares of the company’s stock, valued at approximately $200,753.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock valued at $750,260. 62.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in INST. Nine Ten Capital Management LLC increased its position in Instructure by 60.2% in the first quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock worth $61,568,000 after buying an additional 988,396 shares in the last quarter. JPMorgan Chase & Co. increased its position in Instructure by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock worth $70,769,000 after buying an additional 84,856 shares in the last quarter. Janus Capital Management LLC increased its position in Instructure by 6.7% in the first quarter. Janus Capital Management LLC now owns 1,142,769 shares of the technology company’s stock worth $26,741,000 after buying an additional 71,401 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in Instructure during the first quarter worth approximately $26,000,000. Finally, FMR LLC increased its position in Instructure by 45.9% in the second quarter. FMR LLC now owns 875,150 shares of the technology company’s stock worth $25,817,000 after buying an additional 275,150 shares in the last quarter. 65.15% of the stock is owned by hedge funds and other institutional investors.
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 face-to-face and online learning experiences.
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