Instructure, Inc. (INST) Earns “Buy” Rating from Oppenheimer Holdings, Inc.
Instructure, Inc. (NYSE:INST)‘s stock had its “buy” rating restated by stock analysts at Oppenheimer Holdings, Inc. in a report released on Thursday. They presently have a $38.00 price target on the technology company’s stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 12.26% from the company’s current price.
Several other brokerages have also recently commented on INST. BidaskClub raised Instructure from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 6th. Zacks Investment Research cut Instructure from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 target price on shares of Instructure in a research report on Sunday, October 1st. Jefferies Group LLC upped their target price on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Finally, UBS AG reaffirmed an “outperform” rating and set a $38.00 target price (up previously from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $36.00.
Shares of Instructure (NYSE INST) traded up 0.665% on Thursday, reaching $34.075. 103,579 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $32.09 and its 200-day moving average price is $28.35. The company’s market capitalization is $1.00 billion. Instructure has a 12 month low of $17.85 and a 12 month high of $35.60.
Instructure (NYSE:INST) last announced its quarterly 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. The business had revenue of $38.00 million during the quarter, compared to analysts’ expectations of $37.09 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The firm’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) EPS. On average, equities analysts anticipate that Instructure will post ($1.24) EPS for the current year.
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In related news, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $31.70, for a total value of $63,400.00. Following the completion of the transaction, the executive vice president now directly owns 13,272 shares in the company, valued at $420,722.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Conroy sold 8,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $29.59, for a total value of $236,720.00. Following the completion of the transaction, the director now owns 32,031 shares of the company’s stock, valued at $947,797.29. The disclosure for this sale can be found here. Insiders sold 26,650 shares of company stock valued at $811,538 over the last three months. 62.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INST. Lord Abbett & CO. LLC acquired a new position in Instructure during the second quarter worth $7,435,000. Wasatch Advisors Inc. raised its stake in Instructure by 2.6% during the second quarter. Wasatch Advisors Inc. now owns 221,702 shares of the technology company’s stock worth $6,540,000 after acquiring an additional 5,717 shares in the last quarter. California State Teachers Retirement System raised its stake in Instructure by 81.5% during the second quarter. California State Teachers Retirement System now owns 37,630 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 16,900 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Instructure during the second quarter worth $184,000. Finally, The Manufacturers Life Insurance Company raised its stake in Instructure by 94.4% during the second quarter. The Manufacturers Life Insurance Company now owns 17,466 shares of the technology company’s stock worth $516,000 after acquiring an additional 8,483 shares in the last quarter. Institutional investors and hedge funds 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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