INST - Instructure Turns In The Homework For Another Passing Grade
We can quibble with the quarter's financials
For specifics on Instructure's (INST) quarter from a financial perspective, please see last week's article by Gary Alexander. Below I've updated forward EV/revenue multiples for the same peer set to which I previously compared Instructure. While my peers differ from Gary's, we both compare INST to SaaS companies, of course, and reach the same conclusion: Instructure trading at ~5.5x forward EV/forward revenues is reasonable or better (Gary actually calls INST cheap).
I'm not going to detail the quarter's financials because I don't see anything new