Zacks Investment Research upgraded shares of Instructure Inc (NYSE:INST) from a hold rating to a strong-buy rating in a report released on Tuesday. The brokerage currently has $26.00 price target on the 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. “
INST has been the topic of several other research reports. Raymond James Financial, Inc. upgraded Instructure from an outperform rating to a strong-buy rating and lifted their price target for the stock from $28.00 to $29.00 in a report on Thursday, March 16th. Needham & Company LLC reiterated a strong-buy rating and set a $28.00 price target on shares of Instructure in a report on Tuesday, February 7th. Finally, Jefferies Group LLC reiterated a buy rating and set a $27.00 price target on shares of Instructure in a report on Tuesday, February 7th. Three research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Strong Buy and an average price target of $27.83.
Shares of Instructure (NYSE:INST) opened at 22.55 on Tuesday. Instructure has a 1-year low of $16.55 and a 1-year high of $26.92. The company has a 50-day moving average of $23.36 and a 200-day moving average of $22.24. The stock’s market capitalization is $646.24 million.
Instructure (NYSE:INST) last posted its quarterly earnings results on Monday, February 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. Instructure had a negative return on equity of 208.06% and a negative net margin of 48.31%. The business had revenue of $31.55 million for the quarter, compared to analyst estimates of $30.77 million. During the same quarter in the previous year, the firm earned ($0.43) EPS. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. On average, equities research analysts expect that Instructure will post ($1.31) EPS for the current fiscal year.
In other Instructure news, Director Steven A. Collins sold 2,000 shares of Instructure stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $23.56, for a total value of $47,120.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $47,120. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Zions Sbic Llc sold 125,326 shares of Instructure stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $21.90, for a total value of $2,744,639.40. Following the completion of the transaction, the insider now directly owns 875,795 shares of the company’s stock, valued at $19,179,910.50. The disclosure for this sale can be found here. Insiders have sold a total of 637,559 shares of company stock valued at $14,534,499 over the last three months. Corporate insiders own 62.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in INST. Nine Ten Capital Management LLC purchased a new position in Instructure during the fourth quarter valued at $32,115,000. Eventide Asset Management LLC purchased a new position in Instructure during the fourth quarter valued at $13,099,000. Putnam Investments LLC increased its position in Instructure by 70.8% in the fourth quarter. Putnam Investments LLC now owns 1,118,861 shares of the company’s stock valued at $21,874,000 after buying an additional 463,692 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Instructure during the third quarter valued at $10,386,000. Finally, Janus Capital Management LLC increased its position in Instructure by 45.2% in the fourth quarter. Janus Capital Management LLC now owns 1,071,368 shares of the company’s stock valued at $20,945,000 after buying an additional 333,462 shares in the last quarter. 50.60% of the stock is owned by 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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