Equities research analysts predict that Instructure, Inc. (NYSE:INST) will post $41.40 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Instructure’s earnings, with estimates ranging from $41.23 million to $41.57 million. Instructure reported sales of $31.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.2%. The business is scheduled to report its next earnings results on Monday, February 5th.
According to Zacks, analysts expect that Instructure will report full year sales of $41.40 million for the current financial year, with estimates ranging from $156.00 million to $156.54 million. For the next fiscal year, analysts anticipate that the company will post sales of $201.10 million per share, with estimates ranging from $199.00 million to $204.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Instructure.
Instructure (NYSE:INST) last released its quarterly earnings data on Monday, October 30th. The technology company reported ($0.27) earnings per share 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 quarter in the previous year, the business posted ($0.34) EPS. Instructure’s revenue for the quarter was up 42.5% on a year-over-year basis.
A number of brokerages recently issued reports on INST. Zacks Investment Research raised 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. ValuEngine raised Instructure from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 price target on shares of Instructure in a research report on Sunday, October 1st. BidaskClub lowered Instructure from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $41.00 price target (up previously from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.00.
Shares of Instructure (INST) opened at $33.95 on Friday. Instructure has a 1 year low of $20.25 and a 1 year high of $36.60. The stock has a market capitalization of $1,010.00 and a P/E ratio of -19.29.
In other news, Director Steven A. Collins sold 5,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $33.86, for a total value of $169,300.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $169,300. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mitch Macfarlane sold 19,815 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 11,964 shares of the company’s stock, valued at approximately $410,604.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,867 shares of company stock valued at $2,269,015. Corporate insiders own 62.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of Instructure by 54.6% during the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,440 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Instructure in the second quarter worth approximately $184,000. Oppenheimer Asset Management Inc. bought a new position in Instructure in the third quarter worth approximately $213,000. Quantbot Technologies LP bought a new position in Instructure in the second quarter worth approximately $247,000. Finally, Voya Investment Management LLC bought a new position in Instructure in the second quarter worth approximately $275,000. Institutional investors own 78.99% of the company’s stock.
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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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