Needham & Company Upgrades Instructure, Inc. (INST) to Strong Buy
- Oil steadies on doubts output cut will end global glut
- Western Digital (WDC) Raises Q2 Outlook
- Dollar edges up vs yen as traders eye ECB meeting for cues
- Mondelez Int'l (MDLZ) Seen as Kraft Heinz's (KHC) Next Logical Takeover Target - Credit Suisse
- Foxconn says in preliminary discussions to expand U.S. operations
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Needham & Company upgraded Instructure, Inc. (NYSE: INST) from Buy to Strong Buy with a price target of $28.00, citing multiple upside drivers. The stock is their top small cap idea.
Analyst Scott Berg commented, "We are upgrading INST to our top Small Cap pick after meeting with mgmt this week at the company's HQ. While we understand the stock's initial sell-off post initial FY17 revenue guidance, we believe the current valuation is too disconnected for a company that is dominant in its core end market and that is expected to grow revenues more than 25% for at least two years, has multiple opportunities to drive sales upside, and has cash flow catalysts. We like INST's current product strategy and believe these new products can spur incremental corporate sales and new academic upsell opportunity beginning in 2H17. We upgrade to Strong Buy (from Buy) based on favorable risk/reward and would use the recent sell-off as an attractive entry point for a high-quality, market dominant company."
Shares of Instructure, Inc. closed at $19.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Western Digital (WDC) PT Raised to $77 at Needham & Company
- RBC Capital Upgrades 3M (MMM) to Sector Perform
- Western Digital (WDC) PT Raised to $72 at Mizuho Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
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!