Instructure Inc (INST) Expected to Post Quarterly Sales of $53.89 Million

Analysts expect Instructure Inc (NYSE:INST) to announce sales of $53.89 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Instructure’s earnings, with the highest sales estimate coming in at $54.03 million and the lowest estimate coming in at $53.65 million. Instructure posted sales of $42.95 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.5%. The company is expected to announce its next earnings results on Monday, October 29th.

According to Zacks, analysts expect that Instructure will report full year sales of $207.51 million for the current fiscal year, with estimates ranging from $207.30 million to $208.21 million. For the next fiscal year, analysts expect that the company will post sales of $260.16 million, with estimates ranging from $251.52 million to $264.58 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Instructure.

Instructure (NYSE:INST) last announced its earnings results on Monday, July 30th. The technology company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.19. Instructure had a negative return on equity of 78.26% and a negative net margin of 26.24%. The company had revenue of $50.10 million during the quarter, compared to analysts’ expectations of $49.46 million. During the same period last year, the business posted ($0.32) EPS. Instructure’s revenue for the quarter was up 30.1% on a year-over-year basis.

A number of equities analysts recently commented on the company. Macquarie cut Instructure from an “outperform” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Thursday, July 19th. Needham & Company LLC raised their target price on Instructure from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Citigroup initiated coverage on Instructure in a research report on Monday, July 16th. They issued a “buy” rating and a $55.00 price target on the stock. Oppenheimer reaffirmed a “market perform” rating and issued a $41.00 price target on shares of Instructure in a research report on Tuesday, July 31st. Finally, MED lowered Instructure from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Instructure currently has a consensus rating of “Buy” and an average target price of $48.09.

Shares of Instructure stock opened at $32.55 on Monday. Instructure has a 12 month low of $31.40 and a 12 month high of $49.17. The stock has a market cap of $1.23 billion, a P/E ratio of -18.92 and a beta of 0.91.

In other Instructure news, CFO Steven B. Kaminsky sold 20,000 shares of the stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $45.16, for a total value of $903,200.00. Following the sale, the chief financial officer now owns 165,418 shares of the company’s stock, valued at approximately $7,470,276.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.40% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Northern Trust Corp raised its position in Instructure by 40.2% in the 2nd quarter. Northern Trust Corp now owns 377,148 shares of the technology company’s stock valued at $16,048,000 after purchasing an additional 108,061 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Instructure by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 123,394 shares of the technology company’s stock worth $5,250,000 after purchasing an additional 3,235 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Instructure by 3.6% during the second quarter. Public Employees Retirement System of Ohio now owns 39,276 shares of the technology company’s stock worth $1,671,000 after purchasing an additional 1,364 shares during the last quarter. Pacific Grove Capital LP raised its holdings in Instructure by 105.0% during the second quarter. Pacific Grove Capital LP now owns 82,000 shares of the technology company’s stock worth $3,489,000 after purchasing an additional 42,000 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in Instructure by 40.4% during the second quarter. MetLife Investment Advisors LLC now owns 14,481 shares of the technology company’s stock worth $616,000 after purchasing an additional 4,165 shares during the last quarter. 85.44% of the stock is currently owned by institutional investors.

Instructure Company Profile

Instructure, Inc, a software-as-a-service technology company, provides applications for learning, assessment, and performance management worldwide. The company offers its platform through a software-as-a-service business model. It develops Canvas, a learning management system for K?12 and higher education; Bridge, a learning and performance management suite for businesses; Arc, a next-generation online video learning platform for academic and corporate learning; and Gauge, an assessment management system for K?12 schools.

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