Instructure’s (INST) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Instructure, Inc. (NYSE:INST) in a research note released on Thursday, July 27th. Needham & Company LLC currently has a $39.00 price target on the technology company’s stock, up from their previous price target of $33.00.

A number of other research analysts have also weighed in on INST. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $33.00 price objective (up from $30.00) on shares of Instructure in a research note on Friday, June 23rd. Zacks Investment Research upgraded shares of Instructure from a hold rating to a strong-buy rating and set a $26.00 target price for the company in a report on Tuesday, April 11th. First Analysis increased their target price on shares of Instructure from $34.00 to $38.00 and gave the company an overweight rating in a report on Thursday, July 27th. Jefferies Group LLC increased their target price on shares of Instructure from $27.00 to $30.00 and gave the company a buy rating in a report on Tuesday, May 2nd. Finally, SunTrust Banks, Inc. assumed coverage on shares of Instructure in a report on Monday, June 26th. They set a buy rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $35.63.

Instructure (NYSE:INST) opened at 31.30 on Thursday. The firm’s 50 day moving average price is $30.32 and its 200-day moving average price is $25.90. Instructure has a 52 week low of $17.85 and a 52 week high of $34.10. The firm’s market cap is $919.56 million.

Instructure (NYSE:INST) last released its quarterly earnings data on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The firm had revenue of $38 million for the quarter, compared to analyst estimates of $37.09 million. During the same period last year, the firm earned ($0.44) earnings per share. The business’s quarterly revenue was up 46.7% compared to the same quarter last year. On average, analysts forecast that Instructure will post ($1.24) EPS for the current year.

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In other news, EVP Marc T. Maloy sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $29.11, for a total value of $58,220.00. Following the completion of the transaction, the executive vice president now directly owns 13,272 shares in the company, valued at $386,347.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Collins sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $30.64, for a total transaction of $91,920.00. Following the completion of the transaction, the director now owns 6,552 shares of the company’s stock, valued at $200,753.28. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $750,260 over the last 90 days. 62.50% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in INST. Nine Ten Capital Management LLC increased its position in Instructure by 60.2% in the first quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock valued at $61,568,000 after buying an additional 988,396 shares during the period. JPMorgan Chase & Co. increased its position in Instructure by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock valued at $70,769,000 after buying an additional 84,856 shares during the period. Whale Rock Capital Management LLC increased its position in Instructure by 27.6% in the second quarter. Whale Rock Capital Management LLC now owns 1,418,086 shares of the technology company’s stock valued at $41,834,000 after buying an additional 306,964 shares during the period. SQN Investors LP increased its position in Instructure by 89.3% in the second quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock valued at $39,646,000 after buying an additional 633,875 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in Instructure during the second quarter valued at approximately $34,748,000. Institutional investors and hedge funds own 62.15% of the company’s stock.

About Instructure

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.

Analyst Recommendations for Instructure (NYSE:INST)

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