$68.01 Million in Sales Expected for Instructure Inc (NYSE:INST) This Quarter

Wall Street brokerages expect Instructure Inc (NYSE:INST) to announce sales of $68.01 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Instructure’s earnings. The lowest sales estimate is $67.83 million and the highest is $68.10 million. Instructure reported sales of $55.24 million in the same quarter last year, which would suggest a positive year over year growth rate of 23.1%. The business is scheduled to announce its next earnings results after the market closes on Monday, October 28th.

According to Zacks, analysts expect that Instructure will report full-year sales of $259.02 million for the current year, with estimates ranging from $258.50 million to $259.38 million. For the next year, analysts forecast that the business will report sales of $309.18 million, with estimates ranging from $300.10 million to $314.00 million. Zacks Investment Research’s sales calculations 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 29th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.07. Instructure had a negative net margin of 24.07% and a negative return on equity of 41.15%. The business had revenue of $62.87 million for the quarter, compared to analyst estimates of $62.07 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Instructure’s revenue was up 25.6% compared to the same quarter last year.

INST has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Instructure from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. CIBC upgraded shares of Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 price target on the stock in a research note on Monday, August 12th. ValuEngine downgraded shares of Instructure from a “buy” rating to a “hold” rating in a research note on Thursday. William Blair reiterated a “market perform” rating on shares of Instructure in a research note on Monday, August 12th. Finally, Raymond James downgraded shares of Instructure from an “outperform” rating to a “market perform” rating and set a $45.20 price target on the stock. in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.61.

INST traded up $0.20 during trading on Friday, reaching $42.20. 11,402 shares of the company’s stock were exchanged, compared to its average volume of 352,469. Instructure has a fifty-two week low of $29.70 and a fifty-two week high of $50.19. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $39.88 and a 200 day moving average price of $42.15. The company has a market capitalization of $1.52 billion, a P/E ratio of -34.28 and a beta of 0.44.

In related news, Director Joshua L. Coates sold 10,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $42.93, for a total transaction of $429,300.00. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $236,115. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Steven B. Kaminsky sold 20,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $41.50, for a total transaction of $830,000.00. Following the transaction, the chief financial officer now owns 181,617 shares in the company, valued at approximately $7,537,105.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,000 shares of company stock worth $2,148,200. 9.60% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in INST. New York State Common Retirement Fund raised its holdings in Instructure by 1.7% during the 1st quarter. New York State Common Retirement Fund now owns 135,366 shares of the technology company’s stock worth $6,378,000 after purchasing an additional 2,200 shares during the last quarter. First Trust Advisors LP bought a new stake in Instructure during the 1st quarter worth about $3,596,000. Gagnon Securities LLC increased its stake in shares of Instructure by 5.8% in the 1st quarter. Gagnon Securities LLC now owns 320,012 shares of the technology company’s stock valued at $15,079,000 after acquiring an additional 17,508 shares during the last quarter. Formula Growth Ltd. increased its stake in shares of Instructure by 27.7% in the 1st quarter. Formula Growth Ltd. now owns 461,637 shares of the technology company’s stock valued at $21,752,000 after acquiring an additional 100,000 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Instructure by 26.0% in the 1st quarter. FMR LLC now owns 1,285,554 shares of the technology company’s stock valued at $60,575,000 after acquiring an additional 265,620 shares during the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.

About Instructure

Instructure, Inc provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide. It develops Canvas, a learning management platform for KÂ-12 and higher education; and Bridge, an employee development and engagement platform. The company's applications enhance academic and corporate learning by providing a system of engagement for teachers and learners, enabling frequent and open interactions, a streamlined workflow, and the creation and sharing of content with anytime, anywhere access to information.

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