Zacks Investment Research upgraded shares of Instructure, Inc. (NYSE:INST) from a hold rating to a buy rating in a report released on Tuesday, August 8th. The firm currently has $33.00 price objective 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 brokerages also recently issued reports on INST. Jefferies Group LLC lifted their price target on shares of Instructure from $30.00 to $37.00 and gave the stock a buy rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Instructure from a strong-buy rating to a buy rating in a research note on Saturday, August 5th. SunTrust Banks, Inc. assumed 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. Oppenheimer Holdings, Inc. restated an outperform rating and set a $33.00 price objective (up previously from $30.00) on shares of Instructure in a research report on Friday, June 23rd. Finally, Needham & Company LLC restated a buy rating and set a $39.00 price objective (up previously from $33.00) on shares of Instructure in a research report on Thursday, July 27th. One 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 company. Instructure currently has an average rating of Buy and a consensus target price of $35.63.
Instructure (NYSE INST) traded up 0.64% on Tuesday, hitting $31.35. 147,935 shares of the stock traded hands. The company’s 50 day moving average price is $30.41 and its 200-day moving average price is $26.01. The stock’s market cap is $921.03 million. Instructure has a 52-week low of $17.85 and a 52-week high of $34.10.
Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The firm had revenue of $38 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.44) earnings per share. On average, analysts forecast that Instructure will post ($1.24) earnings per share for the current fiscal year.
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In related news, Director Steven A. Collins sold 3,000 shares of the 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 sale, the director now owns 6,552 shares of the company’s stock, valued at approximately $200,753.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $29.11, for a total transaction of $58,220.00. Following the sale, the executive vice president now directly owns 13,272 shares of the company’s stock, valued at approximately $386,347.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,000 shares of company stock worth $750,260. 62.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in INST. Nine Ten Capital Management LLC increased its stake 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 during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Instructure by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock valued at $70,769,000 after buying an additional 84,856 shares during the period. Whale Rock Capital Management LLC boosted its position in shares of Instructure by 27.6% in the second quarter. Whale Rock Capital Management LLC now owns 1,418,086 shares of the technology company’s stock valued at $41,834,000 after buying an additional 306,964 shares during the period. SQN Investors LP boosted its position in shares of Instructure by 89.3% in the second quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock valued at $39,646,000 after buying an additional 633,875 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of Instructure during the second quarter valued at about $34,748,000. 62.15% of the stock is owned by institutional investors and hedge funds.
Instructure Company Profile
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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