Instructure (INST) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Instructure (NYSE:INST) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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. “

INST has been the topic of several other reports. Raymond James reduced their target price on Instructure from $55.00 to $50.00 and set a strong-buy rating on the stock in a report on Wednesday, October 3rd. MED lowered Instructure from an outperform rating to a market perform rating in a report on Tuesday, July 31st. They noted that the move was a valuation call. DA Davidson initiated coverage on Instructure in a report on Wednesday, August 29th. They set a buy rating and a $47.00 target price on the stock. Credit Suisse Group initiated coverage on Instructure in a report on Friday, November 9th. They set a neutral rating and a $42.00 target price on the stock. Finally, Morgan Stanley reduced their target price on Instructure from $50.00 to $45.00 and set a buy rating on the stock in a report on Tuesday, October 30th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $45.91.

INST opened at $35.75 on Tuesday. Instructure has a 52-week low of $29.48 and a 52-week high of $49.17.

Instructure (NYSE:INST) last released its earnings results on Monday, October 29th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.26. The company had revenue of $55.24 million for the quarter, compared to analyst estimates of $53.93 million. Instructure had a negative return on equity of 49.49% and a negative net margin of 24.15%. Instructure’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) EPS. Sell-side analysts anticipate that Instructure will post -1.4 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Nine Ten Capital Management LLC raised its position in Instructure by 4.0% in the third quarter. Nine Ten Capital Management LLC now owns 3,111,487 shares of the technology company’s stock valued at $110,147,000 after purchasing an additional 118,393 shares during the last quarter. BlackRock Inc. raised its position in Instructure by 1.4% in the third quarter. BlackRock Inc. now owns 2,078,146 shares of the technology company’s stock valued at $73,567,000 after purchasing an additional 29,612 shares during the last quarter. Vanguard Group Inc. raised its position in Instructure by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,474,891 shares of the technology company’s stock valued at $52,211,000 after purchasing an additional 37,572 shares during the last quarter. Mackenzie Financial Corp bought a new position in Instructure in the third quarter valued at about $41,945,000. Finally, Janus Henderson Group PLC raised its position in Instructure by 17.8% in the third quarter. Janus Henderson Group PLC now owns 1,135,640 shares of the technology company’s stock valued at $40,202,000 after purchasing an additional 171,293 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

About Instructure

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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