Zacks Investment Research Upgrades Instructure (INST) to Buy

Zacks Investment Research upgraded shares of Instructure (NYSE:INST) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $39.00 target price 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. “

Several other research analysts have also commented on INST. BidaskClub lowered shares of Instructure from a strong-buy rating to a buy rating in a report on Saturday, August 5th. Morgan Stanley upgraded shares of Instructure from an equal weight rating to an overweight rating and raised their price target for the company from $35.00 to $39.00 in a report on Monday, September 18th. Needham & Company LLC reaffirmed a buy rating and issued a $39.00 price objective on shares of Instructure in a research report on Sunday, October 1st. Oppenheimer reaffirmed a buy rating and issued a $38.00 price objective on shares of Instructure in a research report on Thursday, October 12th. Finally, William Blair started coverage on shares of Instructure in a research report on Thursday, October 26th. They issued a market perform rating for the company. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $37.67.

Instructure (NYSE INST) traded down $1.85 during midday trading on Friday, reaching $32.05. 260,100 shares of the company traded hands, compared to its average volume of 251,744. Instructure has a 52-week low of $18.80 and a 52-week high of $36.60.

Instructure (NYSE:INST) last posted its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The firm had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. During the same quarter last year, the firm posted ($0.34) earnings per share. Instructure’s revenue for the quarter was up 42.5% compared to the same quarter last year. equities analysts expect that Instructure will post -1.75 EPS for the current fiscal year.

In other news, EVP Marc T. Maloy sold 2,000 shares of the firm’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 transaction of $67,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mitch Macfarlane sold 7,650 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $30.12, for a total transaction of $230,418.00. Following the sale, the chief operating officer now directly owns 12,298 shares of the company’s stock, valued at approximately $370,415.76. The disclosure for this sale can be found here. Insiders sold 70,517 shares of company stock valued at $2,397,173 in the last ninety days. 12.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Instructure by 54.6% during the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock worth $121,000 after buying an additional 1,440 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Instructure during the second quarter worth approximately $184,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Instructure during the third quarter worth approximately $213,000. American International Group Inc. grew its position in shares of Instructure by 7.1% during the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock worth $151,000 after buying an additional 426 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Instructure during the first quarter worth approximately $192,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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About Instructure

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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