Instructure, Inc. (INST) Rating Lowered to Hold at Zacks Investment Research
Instructure, Inc. (NYSE:INST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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. “
Other equities analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $39.00 price target on shares of Instructure in a research report on Sunday, October 1st. BidaskClub downgraded Instructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC increased 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. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $38.00 price target on shares of Instructure in a research report on Thursday, October 12th. Finally, William Blair initiated coverage on Instructure in a research report on Thursday, October 26th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.44.
Shares of Instructure (INST) traded up $0.20 during trading on Friday, reaching $33.50. The company’s stock had a trading volume of 211,500 shares, compared to its average volume of 333,148. Instructure has a 12 month low of $18.30 and a 12 month high of $36.00.
Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. The company had revenue of $42.95 million for the quarter, compared to the consensus estimate of $40.57 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. Instructure’s quarterly revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) EPS. equities research analysts expect that Instructure will post -1.75 earnings per share for the current fiscal year.
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In related news, SVP Matthew Kaminer sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $34.61, for a total transaction of $103,830.00. Following the sale, the senior vice president now owns 16,146 shares of the company’s stock, valued at $558,813.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.66, for a total value of $59,320.00. Following the sale, the executive vice president now directly owns 13,272 shares in the company, valued at approximately $393,647.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,517 shares of company stock worth $2,208,263. 62.50% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its position in Instructure by 54.6% during the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,440 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Instructure in the second quarter valued at about $184,000. American International Group Inc. raised its stake in Instructure by 7.1% in the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after buying an additional 426 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in Instructure in the second quarter valued at about $238,000. Finally, Metropolitan Life Insurance Co. NY purchased a new stake in Instructure in the first quarter valued at about $192,000. 77.92% 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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