Insight Enterprises (NASDAQ:NSIT) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Insight Enterprises (NASDAQ:NSIT – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 9.400-9.700 for the period, compared to the consensus estimate of 10.680. The company issued revenue guidance of -. Insight Enterprises also updated its FY24 guidance to $9.40-9.70 EPS.

Insight Enterprises Stock Down 1.5 %

NASDAQ NSIT traded down $2.71 during trading hours on Friday, reaching $172.21. 562,149 shares of the company’s stock were exchanged, compared to its average volume of 276,908. The company’s 50-day moving average is $210.88 and its two-hundred day moving average is $203.79. Insight Enterprises has a one year low of $139.34 and a one year high of $228.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.19 and a current ratio of 1.24. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 1.37 and a beta of 1.48.

Insight Enterprises (NASDAQ:NSIT – Get Free Report) last posted its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company posted $2.37 earnings per share. Insight Enterprises’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, analysts forecast that Insight Enterprises will post 10.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NSIT. Barrington Research reaffirmed an “outperform” rating and set a $225.00 price target on shares of Insight Enterprises in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their price target on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th.

Check Out Our Latest Research Report on NSIT

Insider Activity at Insight Enterprises

In related news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the transaction, the insider now directly owns 5,460 shares of the company’s stock, valued at approximately $1,124,923.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is owned by company insiders.

About Insight Enterprises

(Get Free Report)

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.

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