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

Insight Enterprises (NASDAQ:NSIT) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Insight Enterprises Price Performance

NSIT traded down $2.71 on Friday, reaching $172.21. 562,149 shares of the company’s stock were exchanged, compared to its average volume of 276,908. Insight Enterprises has a twelve month low of $139.34 and a twelve month high of $228.07. The stock’s fifty day moving average price is $210.88 and its 200-day moving average price is $203.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.19. The stock has a market cap of $5.61 billion, a PE ratio of 21.66, a P/E/G ratio of 1.37 and a beta of 1.48.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.18). Insight Enterprises had a net margin of 3.42% and a return on equity of 19.71%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the company posted $2.37 EPS. The company’s quarterly revenue was down 7.9% on a year-over-year basis. Sell-side analysts expect that Insight Enterprises will post 10.67 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. 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, 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 research note on Wednesday, July 17th.

Insider Activity

In related news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.23% of the company’s stock.

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.