Insight Enterprises (NASDAQ:NSIT) Issues FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. 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 research report on Friday, August 2nd. Barrington Research reissued an “outperform” rating and issued a $225.00 price objective on shares of Insight Enterprises in a research report on Friday, September 20th. Stifel Nicolaus upped their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th.

Insight Enterprises Trading Down 3.1 %

Shares of Insight Enterprises stock opened at $203.89 on Thursday. The company has a fifty day simple moving average of $212.44 and a 200-day simple moving average of $203.91. Insight Enterprises has a 12-month low of $139.34 and a 12-month high of $228.07. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.63 and a beta of 1.45.

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). The company had revenue of $2.09 billion during 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 company’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.37 EPS. On average, equities analysts forecast that Insight Enterprises will post 10.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer M. Vasin sold 739 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares in the company, valued at $1,124,923.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.23% of the stock is owned by company 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.