Instructure’s (INST) Buy Rating Reaffirmed at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reissued their buy rating on shares of Instructure, Inc. (NYSE:INST) in a research note published on Tuesday morning. Oppenheimer Holdings, Inc. currently has a $41.00 price objective on the technology company’s stock, up from their prior price objective of $38.00.
A number of other analysts have also recently commented on INST. Zacks Investment Research upgraded Instructure from a hold rating to a strong-buy rating and set a $34.00 price objective for the company in a research report on Monday, July 3rd. First Analysis boosted their price target on Instructure from $34.00 to $38.00 and gave the stock an overweight rating in a research report on Thursday, July 27th. Needham & Company LLC reiterated a buy rating and set a $39.00 price target (up from $33.00) on shares of Instructure in a research report on Thursday, July 27th. UBS AG reiterated an outperform rating and set a $38.00 price target (up from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC boosted their price target on Instructure from $30.00 to $37.00 and gave the stock a buy rating in a research report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $37.00.
Shares of Instructure (INST) traded up 0.86% during midday trading on Tuesday, reaching $35.10. 397,011 shares of the company’s stock were exchanged. The stock’s market cap is $1.03 billion. Instructure has a one year low of $18.30 and a one year high of $36.00. The company’s 50-day moving average is $33.55 and its 200-day moving average is $29.46.
Instructure (NYSE:INST) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $40.57 million. Instructure had a negative return on equity of 2,069.64% and a negative net margin of 34.82%. The business’s revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) earnings per share. Equities analysts expect that Instructure will post ($1.24) earnings per share for the current fiscal year.
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In other Instructure news, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $29.66, for a total transaction of $59,320.00. Following the transaction, the executive vice president now owns 13,272 shares of the company’s stock, valued at $393,647.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Collins sold 3,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $30.64, for a total value of $91,920.00. Following the transaction, the director now directly owns 6,552 shares in the company, valued at approximately $200,753.28. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $1,220,438 over the last quarter. 12.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in 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 during the last quarter. American International Group Inc. boosted its stake in 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 during the last quarter. Tower Research Capital LLC TRC acquired a new position in Instructure during the second quarter worth $184,000. Metropolitan Life Insurance Co. NY acquired a new position in Instructure during the first quarter worth $192,000. Finally, Essex Investment Management Co. LLC acquired a new position in Instructure during the second quarter worth $238,000. 78.04% of the stock is currently 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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