Instructure, Inc. (NYSE:INST) had its price objective boosted by Jefferies Group LLC to $43.00 in a research note published on Tuesday. They currently have a buy rating on the technology company’s stock.
INST has been the topic of several other reports. Zacks Investment Research raised shares of Instructure from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Tuesday, August 8th. UBS AG reissued an outperform rating and set a $38.00 target price (up from $33.00) on shares of Instructure in a research note on Tuesday, August 1st. Needham & Company LLC reaffirmed a buy rating and issued a $39.00 price objective on shares of Instructure in a research note on Sunday, October 1st. BidaskClub lowered shares of Instructure from a strong-buy rating to a buy rating in a research note on Tuesday, October 17th. Finally, Oppenheimer Holdings, Inc. reaffirmed a buy rating and issued a $38.00 price objective on shares of Instructure in a research note on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $37.00.
Instructure (NYSE INST) traded up 0.86% during midday trading on Tuesday, reaching $35.10. 397,011 shares of the company traded hands. The company has a 50 day moving average of $33.55 and a 200-day moving average of $29.46. The stock’s market capitalization is $1.03 billion. Instructure has a 12-month low of $18.30 and a 12-month high of $36.00.
Instructure (NYSE:INST) last issued its earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. The business had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 2,069.64%. Instructure’s revenue was up 42.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) earnings per share. Equities analysts anticipate that Instructure will post ($1.24) EPS for the current fiscal year.
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In other Instructure news, SVP Matthew Kaminer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $31.36, for a total value of $62,720.00. Following the transaction, the senior vice president now directly owns 18,008 shares of the company’s stock, valued at $564,730.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven B. Kaminsky sold 12,500 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the transaction, the chief financial officer now directly owns 143,345 shares in the company, valued at $5,017,075. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $1,220,438 over the last ninety days. Insiders own 12.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new stake in shares of Instructure in the first quarter valued at about $448,000. Bank of New York Mellon Corp raised its holdings in shares of Instructure by 91.0% in the first quarter. Bank of New York Mellon Corp now owns 61,527 shares of the technology company’s stock valued at $1,440,000 after purchasing an additional 29,322 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Instructure in the first quarter valued at about $1,635,000. American International Group Inc. raised 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 purchasing an additional 426 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Instructure in the first quarter valued at about $386,000. 78.04% of the stock is currently 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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