Needham & Company Reiterates Buy on Instructure (INST) After Speaking with Large Moodle Customer
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Needham & Company reiterated a Buy rating and $28.00 price target on Instructure, Inc. (NYSE: INST) following a lengthy conversation with a large higher education Moodle customer. The customer stated Moodle’s flexibility as the platform’s key strength which is not a surprise given its Open Source history.
Analyst Scott Berg commented, "We recently had the chance to speak at length with an existing large higher education Moodle customer about their current selection process for evaluating a new LMS solution. Overall, the customer is very impressed with INST's Canvas platform's user interface and overall modern technology footprint that is materially ahead of its current Moodle installation. But our conversation highlighted several new factors that we believe help "tip the scales" in INST's favor through future selection processes including third party application integration, a significantly heavy Moodle hardware requirement for long time Moodle customers, and new demand for pre-built analytics. We believe these newer selection drivers along with others we have highlighted should be able to sustain or accelerate Canvas' 50% plus win rates within Higher Ed."
Shares of Instructure, Inc. closed at $24.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KLA-Tencor (KLAC): Raising PT to $86 - Needham
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- Philip Morris Intl (PM) PT Raised to $101 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!