Baird says Instructure’s 2028 targets of $1B in annual recurring revenue and EBITDA margin moving to mid-40% versus 40% in fiscal 2023 are better than the stock is discounting. The firm believes execution is now key to resolving investor debates around the company’s sustainable growth profile. Baird finds the stock’s risk/reward attractive given low expectations and the details being shared at today’s investor day. It keeps an Outperform rating on the shares with a $29 price target.
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Read More on INST:
- Instructure to host virtual investor day
- Instructure price target lowered to $30 from $33 at Citi
- Instructure price target lowered to $28 from $32 at KeyBanc
- Instructure FY24 revenue $655.0M- $665.0M, consensus $580.04M
- Instructure sees Q1 revenue $153.8M-$154.8M, consensus $140.13M
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