Insight Enterprises (NASDAQ:NSIT) Posts Earnings Results, Misses Expectations By $0.18 EPS

Insight Enterprises (NASDAQ:NSIT) posted its quarterly earnings results on Thursday. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.18), Briefing.com reports. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.34 billion. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The business’s revenue was down 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.37 earnings per share. Insight Enterprises updated its FY24 guidance to $9.40-9.70 EPS and its FY 2024 guidance to 9.400-9.700 EPS.

Insight Enterprises Stock Performance

Shares of NSIT stock traded down $21.38 during trading hours on Thursday, reaching $182.51. The stock had a trading volume of 122,055 shares, compared to its average volume of 222,534. The firm has a market capitalization of $5.95 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45. The firm has a 50-day simple moving average of $212.44 and a 200-day simple moving average of $203.91. Insight Enterprises has a twelve month low of $139.34 and a twelve month high of $228.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.22 and a quick ratio of 1.19.

Insider Buying and Selling at Insight Enterprises

In other 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 transaction of $152,256.17. Following the completion of the transaction, the insider now directly 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 filing with the SEC, which is accessible through the SEC website. 1.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NSIT. 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 report on Wednesday, July 17th. StockNews.com lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Barrington Research restated an “outperform” rating and issued a $225.00 target price on shares of Insight Enterprises in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 2nd.

About Insight Enterprises

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.