Instructure (INST) Raised 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 research report issued to clients and investors on Wednesday. The firm currently has a $43.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.67% from the company’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. “

INST has been the topic of a number of other research reports. Raymond James dropped their target price on Instructure from $55.00 to $50.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 3rd. Credit Suisse Group initiated coverage on Instructure in a research report on Friday, November 9th. They issued a “neutral” rating and a $42.00 target price on the stock. DA Davidson initiated coverage on Instructure in a research report on Wednesday, August 29th. They issued a “buy” rating and a $47.00 target price on the stock. Morgan Stanley dropped their target price on Instructure from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Finally, Citigroup dropped their target price on Instructure from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $46.27.

Shares of INST stock opened at $37.50 on Wednesday. Instructure has a fifty-two week low of $29.48 and a fifty-two week high of $49.17.

Instructure (NYSE:INST) last issued its earnings results on Monday, October 29th. The technology company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.26. The firm had revenue of $55.24 million for the quarter, compared to analyst estimates of $53.93 million. Instructure had a negative return on equity of 49.49% and a negative net margin of 24.15%. Instructure’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. As a group, equities research analysts predict that Instructure will post -1.4 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. NumerixS Investment Technologies Inc acquired a new position in Instructure in the second quarter valued at approximately $103,000. Great West Life Assurance Co. Can lifted its holdings in Instructure by 121.5% in the second quarter. Great West Life Assurance Co. Can now owns 3,101 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,701 shares during the period. Point72 Hong Kong Ltd acquired a new position in Instructure in the third quarter valued at approximately $162,000. Public Employees Retirement Association of Colorado acquired a new position in Instructure in the third quarter valued at approximately $200,000. Finally, Amalgamated Bank acquired a new position in Instructure in the second quarter valued at approximately $203,000. 84.88% of the stock is owned by institutional investors.

About Instructure

Instructure, Inc, a software-as-a-service technology company, provides applications for learning, assessment, and performance management worldwide. The company offers its platform through a software-as-a-service business model. It develops Canvas, a learning management system for K–12 and higher education; Bridge, a learning and performance management suite for businesses; Arc, a next-generation online video learning platform for academic and corporate learning; and Gauge, an assessment management system for K–12 schools.

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