Insight Enterprises (NASDAQ:NSIT) Releases FY24 Earnings Guidance

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

Analyst Ratings Changes

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

Insight Enterprises Price Performance

Shares of NSIT traded down $2.71 during trading hours on Friday, reaching $172.21. 562,149 shares of the company’s stock traded hands, compared to its average volume of 276,908. The stock has a market cap of $5.61 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.37 and a beta of 1.48. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.43. The firm’s 50 day simple moving average is $210.88 and its 200-day simple moving average is $203.63. Insight Enterprises has a 12 month low of $139.34 and a 12 month high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly 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). The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a net margin of 3.42% and a return on equity of 19.71%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.37 EPS. Equities analysts expect that Insight Enterprises will post 10.67 EPS for the current year.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares in the company, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.23% of the stock is owned by insiders.

Insight Enterprises Company Profile

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.