Insight Enterprises (NASDAQ:NSIT) Issues FY24 Earnings Guidance

by · The Markets Daily

Insight Enterprises (NASDAQ:NSIT – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $9.40-9.70 for the period, compared to the consensus EPS estimate of $10.68. Insight Enterprises also updated its FY 2024 guidance to 9.400-9.700 EPS.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Stifel Nicolaus raised their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, Barrington Research restated an “outperform” rating and issued a $225.00 target price on shares of Insight Enterprises in a report on Friday, September 20th.

View Our Latest Stock Report on NSIT

Insight Enterprises Trading Down 1.5 %

Shares of Insight Enterprises stock traded down $2.71 during trading on Friday, hitting $172.21. The stock had a trading volume of 562,149 shares, compared to its average volume of 276,908. The firm’s fifty day simple moving average is $210.88 and its 200-day simple moving average is $203.63. The stock has a market cap of $5.61 billion, a PE ratio of 21.66, a PEG ratio of 1.37 and a beta of 1.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.19. Insight Enterprises has a 12 month low of $139.34 and a 12 month high of $228.07.

Insight Enterprises (NASDAQ:NSIT – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.18). The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.37 EPS. As a group, sell-side analysts expect that Insight Enterprises will post 10.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the transaction, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.23% of the stock is currently owned by 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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