Needham & Company Upgrades Instructure, Inc. (INST) to Strong Buy
- Unemployment Rate Drops to 4.6%
- Bond yields fall on U.S. jobs data, euro flat before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
- Mnuchin Wants Fannie (FNMA)/Freddie (FMCC) Out of Government Hands, But Stocks Grossly Overvalued - Keefe, Bruyette & Woods
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- UPDATE: Oppenheimer Starts Paycom Software (PAYC) at Outperform
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
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!