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

Insight Enterprises (NASDAQ:NSIT) updated its FY 2024 earnings guidance on Thursday. 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.

Analysts Set New Price Targets

NSIT has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Insight Enterprises in a report on Friday, September 20th. Finally, Stifel Nicolaus lifted their price objective on Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th.

Insight Enterprises Price Performance

Shares of Insight Enterprises stock traded down $2.71 on Friday, reaching $172.21. The company’s stock had a trading volume of 562,149 shares, compared to its average volume of 276,908. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $5.61 billion, a P/E ratio of 21.66, a PEG ratio of 1.37 and a beta of 1.48. The stock has a 50-day moving average price of $210.88 and a 200-day moving average price of $203.79. Insight Enterprises has a 52-week low of $139.34 and a 52-week high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last issued 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%. Insight Enterprises’s revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.37 EPS. Analysts expect that Insight Enterprises will post 10.67 EPS for the current year.

Insider Activity at Insight Enterprises

In other news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises 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 sale, the insider now directly owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.23% of the stock is currently owned by corporate insiders.

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.