Instructure (INST) Price Target Cut to $45.00 by Analysts at Raymond James

Instructure (NYSE:INST) had its price objective decreased by stock analysts at Raymond James from $50.00 to $45.00 in a research report issued on Tuesday. The firm currently has a “strong-buy” rating on the technology company’s stock. Raymond James’ target price would suggest a potential upside of 21.16% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Barrington Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Instructure in a research report on Tuesday, October 16th. DA Davidson started coverage on Instructure in a research report on Wednesday, August 29th. They set a “buy” rating and a $47.00 price target on the stock. Needham & Company LLC upped their price target on Instructure from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Citigroup began coverage on Instructure in a research report on Monday, July 16th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Zacks Investment Research downgraded Instructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Instructure has a consensus rating of “Buy” and an average price target of $47.10.

Shares of INST stock traded down $0.20 during trading hours on Tuesday, reaching $37.14. 25,393 shares of the company’s stock were exchanged, compared to its average volume of 886,075. The company has a market cap of $1.24 billion, a PE ratio of -21.59 and a beta of 0.90. 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 quarterly earnings results on Monday, October 29th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.26. The business had revenue of $55.24 million for the quarter, compared to the consensus estimate of $53.93 million. Instructure had a negative return on equity of 54.63% and a negative net margin of 24.15%. The business’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts forecast that Instructure will post -1.57 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EastBay Asset Management LLC acquired a new position in shares of Instructure in the 3rd quarter valued at $12,114,000. Voya Investment Management LLC increased its position in shares of Instructure by 5,104.5% in the 2nd quarter. Voya Investment Management LLC now owns 485,322 shares of the technology company’s stock valued at $20,650,000 after acquiring an additional 475,997 shares during the period. Pacific Grove Capital LP increased its position in shares of Instructure by 105.0% in the 2nd quarter. Pacific Grove Capital LP now owns 82,000 shares of the technology company’s stock valued at $3,489,000 after acquiring an additional 42,000 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Instructure by 121.5% in the 2nd 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. Finally, BlackRock Inc. grew its position in Instructure by 45.9% during the 2nd quarter. BlackRock Inc. now owns 2,048,534 shares of the technology company’s stock worth $87,166,000 after purchasing an additional 644,946 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Instructure Company Profile

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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