Instructure (INST) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Instructure (NYSE:INST) from a buy rating to a hold rating in a research report report published 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. “

Several other brokerages also recently weighed in on INST. Barrington Research reiterated a buy rating and issued a $50.00 price objective on shares of Instructure in a research report on Tuesday, October 16th. Morgan Stanley lowered their price objective on Instructure from $50.00 to $45.00 and set a buy rating for the company in a research report on Tuesday, October 30th. Raymond James lowered their price objective on Instructure from $50.00 to $45.00 and set a strong-buy rating for the company in a research report on Tuesday, October 30th. ValuEngine downgraded Instructure from a buy rating to a hold rating in a research report on Thursday, November 1st. Finally, DA Davidson initiated coverage on Instructure in a research report on Wednesday, August 29th. They issued a buy rating and a $47.00 price objective for the company. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $46.27.

Shares of INST stock opened at $37.50 on Tuesday. Instructure has a fifty-two week low of $29.48 and a fifty-two week high of $49.17.

Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, October 29th. The technology company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.26. Instructure had a negative return on equity of 49.49% and a negative net margin of 24.15%. The firm had revenue of $55.24 million during the quarter, compared to the consensus estimate of $53.93 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The business’s revenue was up 27.9% on a year-over-year basis. On average, research analysts predict that Instructure will post -1.4 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Instructure by 3.6% during the second quarter. Public Employees Retirement System of Ohio now owns 39,276 shares of the technology company’s stock valued at $1,671,000 after acquiring an additional 1,364 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Instructure by 7.5% during the second quarter. Raymond James & Associates now owns 22,019 shares of the technology company’s stock valued at $937,000 after acquiring an additional 1,531 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Instructure by 121.5% during 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 in the last quarter. Gagnon Advisors LLC raised its holdings in shares of Instructure by 1.7% during the second quarter. Gagnon Advisors LLC now owns 121,669 shares of the technology company’s stock valued at $5,177,000 after acquiring an additional 2,070 shares in the last quarter. Finally, Summit Global Investments raised its holdings in shares of Instructure by 13.1% during the third quarter. Summit Global Investments now owns 18,100 shares of the technology company’s stock valued at $641,000 after acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 84.88% 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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