Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

Insight Enterprises (NASDAQ:NSIT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.60-10.90 for the period, compared to the consensus earnings per share estimate of $10.75.

Insight Enterprises Trading Up 0.1 %

Insight Enterprises stock opened at $224.50 on Thursday. The stock has a 50-day moving average of $204.42 and a two-hundred day moving average of $193.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.22 and a current ratio of 1.27. The stock has a market cap of $7.31 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.49. Insight Enterprises has a one year low of $131.59 and a one year high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. On average, research analysts anticipate that Insight Enterprises will post 10.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus raised their target price on Insight Enterprises from $192.00 to $200.00 and gave the stock a hold rating in a report on Wednesday, July 17th. Barrington Research increased their price target on Insight Enterprises from $211.00 to $225.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. StockNews.com downgraded Insight Enterprises from a buy rating to a hold rating in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. increased their price target on Insight Enterprises from $193.00 to $195.00 and gave the stock a neutral rating in a research report on Friday, May 3rd.

Insider Activity

In other news, CEO Joyce A. Mullen sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total value of $2,010,800.00. Following the transaction, the chief executive officer now owns 40,807 shares in the company, valued at $8,205,471.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Joyce A. Mullen sold 10,000 shares of Insight Enterprises stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $201.08, for a total transaction of $2,010,800.00. Following the transaction, the chief executive officer now owns 40,807 shares in the company, valued at $8,205,471.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Adrian P. Gregory sold 2,750 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $195.83, for a total value of $538,532.50. Following the transaction, the insider now owns 3,447 shares in the company, valued at approximately $675,026.01. The disclosure for this sale can be found here. Insiders have sold a total of 462,750 shares of company stock worth $89,169,833 over the last quarter. 1.23% of the stock is currently owned by corporate 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.