Wall Street brokerages predict that Instructure Inc (NYSE:INST) will report sales of $47.07 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Instructure’s earnings. The lowest sales estimate is $46.92 million and the highest is $47.18 million. Instructure posted sales of $33.98 million in the same quarter last year, which suggests a positive year-over-year growth rate of 38.5%. The business is scheduled to issue its next earnings results on Monday, May 7th.
On average, analysts expect that Instructure will report full-year sales of $47.07 million for the current year, with estimates ranging from $206.28 million to $208.01 million. For the next fiscal year, analysts expect that the business will post sales of $262.19 million per share, with estimates ranging from $257.17 million to $270.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Instructure.
Instructure (NYSE:INST) last released its earnings results on Monday, February 12th. The technology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. The business had revenue of $43.80 million for the quarter, compared to the consensus estimate of $41.43 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 31.37%. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share.
A number of equities research analysts have commented on INST shares. Zacks Investment Research upgraded Instructure from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, December 1st. Oppenheimer reissued a “buy” rating and issued a $41.00 target price on shares of Instructure in a report on Wednesday, December 6th. Macquarie assumed coverage on Instructure in a report on Thursday, December 7th. They issued an “outperform” rating and a $41.00 target price for the company. ValuEngine raised Instructure from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Needham & Company LLC boosted their target price on Instructure from $39.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.89.
In other Instructure news, CFO Steven B. Kaminsky sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $37.50, for a total transaction of $562,500.00. Following the completion of the sale, the chief financial officer now directly owns 159,297 shares of the company’s stock, valued at approximately $5,973,637.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mitch Macfarlane sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the sale, the chief operating officer now directly owns 48,581 shares of the company’s stock, valued at $1,651,754. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,945 shares of company stock valued at $1,624,866. 62.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in shares of Instructure by 75.1% in the 2nd quarter. Northern Trust Corp now owns 212,217 shares of the technology company’s stock worth $6,260,000 after buying an additional 91,019 shares during the period. Vanguard Group Inc. grew its holdings in shares of Instructure by 23.4% during the 2nd quarter. Vanguard Group Inc. now owns 585,647 shares of the technology company’s stock valued at $17,276,000 after acquiring an additional 110,915 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Instructure by 122.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 41,373 shares of the technology company’s stock valued at $1,221,000 after acquiring an additional 22,794 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of Instructure during the 2nd quarter valued at $275,000. Finally, State Street Corp grew its holdings in shares of Instructure by 92.4% during the 2nd quarter. State Street Corp now owns 315,814 shares of the technology company’s stock valued at $9,320,000 after acquiring an additional 151,661 shares in the last quarter. Institutional investors own 74.00% of the company’s stock.
Instructure (NYSE:INST) traded up $0.60 during trading hours on Thursday, reaching $44.85. The company’s stock had a trading volume of 275,367 shares, compared to its average volume of 395,581. Instructure has a 12 month low of $22.00 and a 12 month high of $46.50. The stock has a market capitalization of $1,496.20, a P/E ratio of -26.38 and a beta of 0.93.
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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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