Brokerages Expect Instructure, Inc. (INST) Will Post Quarterly Sales of $40.56 Million
Wall Street brokerages expect that Instructure, Inc. (NYSE:INST) will report sales of $40.56 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Instructure’s earnings, with the lowest sales estimate coming in at $40.47 million and the highest estimate coming in at $40.76 million. Instructure reported sales of $30.15 million in the same quarter last year, which indicates a positive year over year growth rate of 34.5%. The firm is expected to announce its next quarterly earnings results after the market closes on Monday, October 30th.
On average, analysts expect that Instructure will report full year sales of $40.56 million for the current year, with estimates ranging from $153.53 million to $154.00 million. For the next fiscal year, analysts anticipate that the firm 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 analysts that that provide coverage for Instructure.
Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. The business had revenue of $38.00 million during the quarter, compared to the consensus estimate of $37.09 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The company’s revenue was up 46.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.44) earnings per share.
INST has been the subject of a number of research analyst reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $38.00 price target (up from $33.00) on shares of Instructure in a report on Wednesday, August 2nd. Morgan Stanley upgraded Instructure from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $39.00 in a report on Monday, September 18th. First Analysis boosted their price target on Instructure from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. BidaskClub downgraded Instructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC boosted their price target on Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $36.00.
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In related news, COO Mitch Macfarlane sold 7,650 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $30.12, for a total transaction of $230,418.00. Following the completion of the transaction, the chief operating officer now directly owns 12,298 shares in the company, valued at approximately $370,415.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William M. Conroy sold 8,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $33.94, for a total value of $271,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,650 shares of company stock valued at $846,338. 12.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Instructure during the 2nd quarter worth $7,435,000. Wasatch Advisors Inc. grew its stake in Instructure by 2.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 221,702 shares of the technology company’s stock worth $6,540,000 after buying an additional 5,717 shares during the last quarter. California State Teachers Retirement System grew its stake in Instructure by 81.5% during the 2nd quarter. California State Teachers Retirement System now owns 37,630 shares of the technology company’s stock worth $1,110,000 after buying an additional 16,900 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Instructure during the 2nd quarter worth $184,000. Finally, The Manufacturers Life Insurance Company grew its stake in Instructure by 94.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,466 shares of the technology company’s stock worth $516,000 after buying an additional 8,483 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Shares of Instructure (NYSE INST) opened at 34.85 on Wednesday. The stock has a 50 day moving average price of $33.04 and a 200 day moving average price of $29.11. Instructure has a 12-month low of $17.85 and a 12-month high of $35.60. The firm’s market capitalization is $1.02 billion.
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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