Instructure (INST) Price Target Cut to $45.00

Instructure (NYSE:INST) had its price target reduced by Morgan Stanley from $50.00 to $45.00 in a research report report published on Tuesday morning. Morgan Stanley currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently commented on INST. Raymond James dropped their price target on Instructure from $55.00 to $50.00 and set a strong-buy rating for the company in a research note on Wednesday, October 3rd. MED downgraded Instructure from an outperform rating to a market perform rating in a research note on Tuesday, July 31st. They noted that the move was a valuation call. DA Davidson initiated coverage on Instructure in a research note on Wednesday, August 29th. They issued a buy rating and a $47.00 price target for the company. Macquarie downgraded Instructure from an outperform rating to a neutral rating and set a $41.00 price target for the company. in a research note on Thursday, July 19th. Finally, Zacks Investment Research downgraded Instructure from a buy rating to a hold rating in a research note on Wednesday, July 4th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $46.60.

Shares of INST traded down $1.06 during midday trading on Tuesday, reaching $36.00. 631,091 shares of the stock were exchanged, compared to its average volume of 830,043. Instructure has a twelve month low of $29.48 and a twelve month high of $49.17. The company has a market capitalization of $1.30 billion, a P/E ratio of -20.93 and a beta of 0.58.

Instructure (NYSE:INST) last posted its earnings results on Monday, October 29th. The technology company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.26. Instructure had a negative return on equity of 54.63% and a negative net margin of 24.15%. The company had revenue of $55.24 million during the quarter, compared to the consensus estimate of $53.93 million. During the same quarter last year, the firm earned ($0.24) earnings per share. The company’s revenue was up 27.9% on a year-over-year basis. As a group, sell-side analysts expect that Instructure will post -1.4 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in INST. NumerixS Investment Technologies Inc bought a new position in Instructure in the second quarter valued at about $103,000. Great West Life Assurance Co. Can grew its position 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 last quarter. Public Employees Retirement Association of Colorado bought a new position in Instructure in the third quarter valued at about $200,000. Amalgamated Bank bought a new position in Instructure in the second quarter valued at about $203,000. Finally, Atria Investments LLC bought a new position in Instructure in the second quarter valued at about $216,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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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