Wall Street brokerages expect that Instructure Inc (NYSE:INST) will report $68.01 million in sales for the current quarter, Zacks reports. Five analysts have issued 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 indicates a positive year over year growth rate of 23.1%. The business is expected to report its next earnings report 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 financial year, analysts forecast that the business will post sales of $309.18 million, with estimates ranging from $300.10 million to $314.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Instructure.
Instructure (NYSE:INST) last issued its earnings results on Monday, July 29th. The technology company reported ($0.58) earnings per share for the quarter, topping the 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 company had revenue of $62.87 million for the quarter, compared to analyst estimates of $62.07 million. During the same period in the prior year, the business posted ($0.24) earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year.
Several brokerages have issued reports on INST. Oppenheimer raised shares of Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 price target on the stock in a report on Monday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of Instructure in a report on Tuesday, July 30th. William Blair reissued a “market perform” rating on shares of Instructure in a research note on Monday, August 12th. Raymond James downgraded shares of Instructure from an “outperform” rating to a “market perform” rating and set a $45.20 price objective on the stock. in a research note on Friday, July 12th. Finally, CIBC raised shares of Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 price objective on the stock in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.61.
In other news, Director Joshua L. Coates sold 5,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $41.06, for a total value of $205,300.00. Following the completion of the sale, the director now owns 5,500 shares of the company’s stock, valued at $225,830. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Kaminer sold 2,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $39.05, for a total transaction of $78,100.00. Following the completion of the sale, the insider now directly owns 36,075 shares of the company’s stock, valued at approximately $1,408,728.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,000 shares of company stock worth $2,148,200. 9.60% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in INST. New York State Common Retirement Fund increased its position in shares of Instructure by 1.7% in the first quarter. New York State Common Retirement Fund now owns 135,366 shares of the technology company’s stock worth $6,378,000 after acquiring an additional 2,200 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Instructure in the first quarter worth $3,596,000. Gagnon Securities LLC increased its position in shares of Instructure by 5.8% in the first quarter. Gagnon Securities LLC now owns 320,012 shares of the technology company’s stock worth $15,079,000 after acquiring an additional 17,508 shares in the last quarter. Formula Growth Ltd. increased its position in shares of Instructure by 27.7% in the first quarter. Formula Growth Ltd. now owns 461,637 shares of the technology company’s stock worth $21,752,000 after acquiring an additional 100,000 shares in the last quarter. Finally, FMR LLC increased its position in shares of Instructure by 26.0% in the first quarter. FMR LLC now owns 1,285,554 shares of the technology company’s stock worth $60,575,000 after acquiring an additional 265,620 shares in the last quarter. 90.80% of the stock is owned by institutional investors.
INST traded up $0.20 on Friday, hitting $42.20. 11,402 shares of the company were exchanged, compared to its average volume of 352,469. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.06. The business’s fifty day moving average is $39.88 and its 200 day moving average is $42.15. Instructure has a fifty-two week low of $29.70 and a fifty-two week high of $50.19. The firm has a market capitalization of $1.52 billion, a P/E ratio of -34.28 and a beta of 0.44.
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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