$40.56 Million in Sales Expected for Instructure, Inc. (INST) This Quarter
Equities research analysts expect that Instructure, Inc. (NYSE:INST) will post sales of $40.56 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Instructure’s earnings, with the highest sales estimate coming in at $40.76 million and the lowest estimate coming in at $40.47 million. Instructure posted sales of $30.15 million during the same quarter last year, which would indicate a positive year over year growth rate of 34.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Instructure will report full-year sales of $40.56 million for the current financial year, with estimates ranging from $153.53 million to $154.00 million. For the next financial year, analysts forecast that the business will post sales of $200.52 million per share, with estimates ranging from $195.50 million to $203.28 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Instructure.
Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The business had revenue of $38.00 million for the quarter, compared to analyst estimates of $37.09 million. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. Instructure’s quarterly revenue was up 46.7% on a year-over-year basis.
Several brokerages have issued reports on INST. BidaskClub upgraded shares of Instructure from a “buy” rating to a “strong-buy” rating in a report on Friday. Zacks Investment Research cut shares of Instructure from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $39.00 price target on shares of Instructure in a report on Sunday, October 1st. Jefferies Group LLC raised their price target on shares of Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Finally, UBS AG restated an “outperform” rating and issued a $38.00 price target (up from $33.00) on shares of Instructure in a report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $36.00.
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In related news, CFO Steven B. Kaminsky sold 10,000 shares of Instructure stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 150,459 shares in the company, valued at approximately $4,513,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Conroy sold 8,000 shares of Instructure stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $29.59, for a total transaction of $236,720.00. Following the completion of the sale, the director now owns 32,031 shares of the company’s stock, valued at $947,797.29. The disclosure for this sale can be found here. Insiders sold a total of 36,650 shares of company stock worth $1,111,538 over the last 90 days. Company insiders own 62.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Vista Equity Partners Management LLC boosted its stake in Instructure by 36.8% in the 1st quarter. Vista Equity Partners Management LLC now owns 799,117 shares of the technology company’s stock worth $18,699,000 after purchasing an additional 214,884 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Instructure by 3.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock worth $70,769,000 after purchasing an additional 84,856 shares in the last quarter. Atlantic Trust Group LLC acquired a new stake in Instructure in the 2nd quarter worth approximately $1,002,000. Hamilton Lane Advisors LLC boosted its stake in Instructure by 36.1% in the 2nd quarter. Hamilton Lane Advisors LLC now owns 163,344 shares of the technology company’s stock worth $4,819,000 after purchasing an additional 43,327 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Instructure by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 474,732 shares of the technology company’s stock worth $11,109,000 after purchasing an additional 83,381 shares in the last quarter. Institutional investors own 78.33% of the company’s stock.
Instructure (NYSE INST) opened at 34.60 on Friday. Instructure has a one year low of $17.85 and a one year high of $34.85. The stock’s market capitalization is $1.02 billion. The firm has a 50-day moving average of $31.73 and a 200 day moving average of $28.03.
Instructure Company Profile
Instructure, Inc provides cloud-based learning management platform for academic institutions and companies across the world. The Company operates in the cloud-based learning management systems segment. The Company builds its learning management applications, Canvas for the education market and Bridge for the corporate market, to enable its customers to develop, deliver and manage face-to-face and online learning experiences.
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