In a report released today, Brian Schwartz from Oppenheimer maintained a Hold rating on Instructure Inc (NYSE: INST). The company’s shares closed yesterday at $30.75, close to its 52-week low of $29.48.
Schwartz noted:
“Instructure reported good 3Q results, raised guidance, and announced that Dan Goldsmith will become CEO in January, which are positives. Negatively, the 3Q billings result was light vs. consensus estimate, but the 2018 growth guidance improved slightly, suggesting good bookings. Bottom Line: We believe Instructure has ample opportunities in the SMB business market for HCM, and we remain encouraged about the prospects for growth within this segment. On balance, a key question that remains for the stock is whether the incremental growth of the HCM products, which is largely coming from corporate learning at this juncture, can offset the expected gradual decline in growth of the Ed Tech products. Investors could keep avoiding the name until receiving more clarity on the 2019 growth outlook.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 24.6% and a 71.2% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Salesforce.com, and MiX Telematics.
Currently, the analyst consensus on Instructure Inc is a Strong Buy with an average price target of $49.
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The company has a one-year high of $49.18 and a one-year low of $29.48. Currently, Instructure Inc has an average volume of 585.6K.
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Instructure, Inc. is a software-as-a-service technology company, which engages in creating software. It also involves in providing cloud-based learning management platform for academic institutions and companies. The company was founded by Devlin Daley and Brian Whitmer in September, 2008 and is headquartered in Salt Lake City, UT.
