Instructure, Inc. (NYSE:INST) – Equities researchers at SunTrust Banks boosted their FY2017 EPS estimates for shares of Instructure in a report released on Tuesday. SunTrust Banks analyst T. Tillman now forecasts that the technology company will post earnings per share of ($1.74) for the year, up from their previous estimate of ($1.75). SunTrust Banks also issued estimates for Instructure’s Q4 2017 earnings at ($0.42) EPS, Q2 2018 earnings at ($0.37) EPS, FY2018 earnings at ($1.41) EPS and FY2019 earnings at ($0.92) EPS.
A number of other equities analysts have also recently commented on INST. Zacks Investment Research cut shares of Instructure from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. William Blair assumed coverage on Instructure in a report on Thursday, October 26th. They issued a “market perform” rating on the stock. Morgan Stanley upgraded Instructure from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $35.00 to $39.00 in a report on Monday, September 18th. BidaskClub cut Instructure from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. Finally, Jefferies Group boosted their price target on Instructure to $43.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.44.
Instructure (NYSE:INST) last announced its earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. The business had revenue of $42.95 million for the quarter, compared to analysts’ expectations of $40.57 million. During the same period in the prior year, the business posted ($0.34) earnings per share. The firm’s revenue was up 42.5% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. American International Group Inc. grew its stake in shares of Instructure by 7.1% during the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock worth $151,000 after purchasing an additional 426 shares in the last quarter. Vanguard Group Inc. boosted its stake in Instructure by 21.3% in the first quarter. Vanguard Group Inc. now owns 474,732 shares of the technology company’s stock valued at $11,109,000 after acquiring an additional 83,381 shares in the last quarter. Geode Capital Management LLC boosted its stake in Instructure by 30.6% in the first quarter. Geode Capital Management LLC now owns 54,470 shares of the technology company’s stock valued at $1,274,000 after acquiring an additional 12,750 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Instructure in the first quarter valued at $2,512,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Instructure by 3.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 25,367 shares of the technology company’s stock valued at $594,000 after acquiring an additional 855 shares in the last quarter. Institutional investors and hedge funds own 78.90% of the company’s stock.
In other news, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $33.52, for a total transaction of $67,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mitch Macfarlane sold 19,815 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $34.32, for a total value of $680,050.80. Following the completion of the transaction, the chief operating officer now owns 11,964 shares of the company’s stock, valued at approximately $410,604.48. The disclosure for this sale can be found here. Insiders sold 61,517 shares of company stock valued at $2,086,223 over the last 90 days. 12.80% of the stock is owned by corporate insiders.
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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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