Instructure (INST) Lifted to “Buy” at Zacks Investment Research

Instructure (NYSE:INST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $39.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.04% from the stock’s previous close.

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 analysts have also issued reports on INST. BidaskClub lowered shares of Instructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Needham & Company LLC restated a “buy” rating and set a $39.00 price target on shares of Instructure in a research report on Sunday, October 1st. Oppenheimer restated a “buy” rating and set a $41.00 price target (up from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Jefferies Group upped their price target on shares of Instructure to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Morgan Stanley upgraded shares of Instructure from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $35.00 to $39.00 in a research report on Monday, September 18th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Instructure has a consensus rating of “Buy” and a consensus target price of $37.67.

Instructure (INST) traded down $0.85 on Friday, reaching $33.90. The company had a trading volume of 159,672 shares, compared to its average volume of 251,708. Instructure has a 1-year low of $18.80 and a 1-year high of $36.60.

Instructure (NYSE:INST) last released its earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.04. The business had revenue of $42.95 million for the quarter, compared to analysts’ expectations of $40.57 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. The firm’s revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. equities analysts forecast that Instructure will post -1.75 EPS for the current year.

In related news, COO Mitch Macfarlane sold 19,815 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $34.32, for a total value of $680,050.80. Following the completion of the transaction, the chief operating officer now directly owns 11,964 shares of the company’s stock, valued at $410,604.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ellen Levy sold 9,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $34.55, for a total transaction of $310,950.00. Following the completion of the transaction, the director now directly owns 17,562 shares of the company’s stock, valued at $606,767.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,517 shares of company stock valued at $2,397,173. 12.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in Instructure by 2.1% in the second quarter. Russell Investments Group Ltd. now owns 19,555 shares of the technology company’s stock worth $577,000 after buying an additional 410 shares in the last quarter. American International Group Inc. increased its stake 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 valued at $151,000 after purchasing an additional 426 shares in the last quarter. Strs Ohio increased its stake in shares of Instructure by 1.9% during the second quarter. Strs Ohio now owns 26,800 shares of the technology company’s stock valued at $790,000 after purchasing an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Instructure by 3.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 25,367 shares of the technology company’s stock valued at $594,000 after purchasing an additional 855 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Instructure by 7.6% during the second quarter. Alliancebernstein L.P. now owns 17,000 shares of the technology company’s stock valued at $502,000 after purchasing an additional 1,200 shares in the last quarter. 78.90% of the stock is owned by institutional investors.

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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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