Zacks: Analysts Anticipate Instructure Inc (INST) Will Announce Quarterly Sales of $41.39 Million
Equities research analysts expect Instructure Inc (NYSE:INST) to report $41.39 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Instructure’s earnings. The lowest sales estimate is $41.23 million and the highest is $41.57 million. Instructure reported sales of $31.55 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.2%. The firm is expected to issue its next earnings results after the market closes on Monday, February 12th.
According to Zacks, analysts expect that Instructure will report full-year sales of $41.39 million for the current fiscal 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’ sales calculations are an average based on a survey of sell-side research analysts that cover Instructure.
A number of brokerages have weighed in on INST. Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Friday, December 1st. ValuEngine raised Instructure from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. BidaskClub lowered Instructure from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 17th. Oppenheimer reissued a “buy” rating and set a $41.00 price target (up previously from $38.00) on shares of Instructure in a research note on Tuesday, October 31st. Finally, Macquarie began coverage on Instructure in a research note on Thursday, December 7th. They set an “outperform” rating and a $41.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.00.
In related news, Director Steven A. Collins sold 5,000 shares of Instructure stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $33.86, for a total transaction of $169,300.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $169,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen Levy sold 9,000 shares of Instructure stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $34.55, for a total value of $310,950.00. Following the transaction, the director now owns 17,562 shares of the company’s stock, valued at $606,767.10. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock worth $830,250 in the last three months. Corporate insiders own 62.50% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Instructure by 54.6% in the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after acquiring an additional 1,440 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Instructure in the 2nd quarter valued at $184,000. Oppenheimer Asset Management Inc. acquired a new position in Instructure in the 3rd quarter valued at $213,000. Voya Investment Management LLC acquired a new position in Instructure in the 2nd quarter valued at $275,000. Finally, California Public Employees Retirement System acquired a new position in Instructure in the 3rd quarter valued at $351,000. Hedge funds and other institutional investors own 78.77% 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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