Instructure’s (INST) Buy Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC restated their buy rating on shares of Instructure, Inc. (NYSE:INST) in a report released on Sunday morning. Needham & Company LLC currently has a $39.00 target price on the technology company’s stock.
Several other brokerages also recently commented on INST. Jefferies Group LLC upped their target price on shares of Instructure from $30.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, August 1st. UBS AG reaffirmed an outperform rating and issued a $38.00 target price (up previously from $33.00) on shares of Instructure in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $38.00 target price (up previously from $33.00) on shares of Instructure in a research note on Wednesday, August 2nd. Morgan Stanley raised shares of Instructure from an equal weight rating to an overweight rating and upped their target price for the company from $35.00 to $39.00 in a research note on Monday, September 18th. Finally, First Analysis upped their target price on shares of Instructure from $34.00 to $38.00 and gave the company an overweight rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Instructure presently has an average rating of Buy and a consensus price target of $36.00.
Instructure (INST) opened at 34.45 on Friday. The company has a 50-day moving average of $31.64 and a 200-day moving average of $27.99. The firm’s market cap is $1.01 billion. Instructure has a 1-year low of $17.85 and a 1-year high of $34.85.
Instructure (NYSE:INST) last issued its earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The firm had revenue of $38.00 million during the quarter, compared to the consensus estimate of $37.09 million. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. The business’s quarterly revenue was up 46.7% on a year-over-year basis. Analysts predict that Instructure will post ($1.24) earnings per share for the current year.
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In other news, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $33.52, for a total value of $67,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Collins sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were 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 owns 6,552 shares of the company’s stock, valued at approximately $200,753.28. The disclosure for this sale can be found here. Insiders sold 36,650 shares of company stock valued at $1,111,538 in the last quarter. Corporate insiders own 12.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in shares of Instructure by 54.6% in the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after buying an additional 1,440 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Instructure in the second quarter valued at approximately $184,000. American International Group Inc. boosted its holdings in shares of Instructure by 7.1% in the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after buying an additional 426 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Instructure in the second quarter valued at approximately $238,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Instructure in the first quarter valued at approximately $192,000. Institutional investors own 78.33% 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 face-to-face and online learning experiences.
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