Insight Enterprises (NASDAQ:NSIT) Releases FY24 Earnings Guidance

Insight Enterprises (NASDAQ:NSIT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $10.60-10.90 for the period, compared to the consensus EPS estimate of $10.61.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NSIT shares. Barrington Research reissued an outperform rating and set a $211.00 price objective on shares of Insight Enterprises in a report on Tuesday, April 23rd. StockNews.com cut shares of Insight Enterprises from a buy rating to a hold rating in a report on Friday, January 26th. Stifel Nicolaus increased their price objective on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a hold rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Insight Enterprises from $188.00 to $193.00 and gave the stock a neutral rating in a research note on Thursday, April 11th.

Insight Enterprises Price Performance

NSIT stock opened at $173.22 on Thursday. Insight Enterprises has a 52 week low of $117.99 and a 52 week high of $194.57. The firm has a market capitalization of $5.64 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $184.50 and a two-hundred day simple moving average of $174.01.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, February 15th. The software maker reported $2.98 EPS for the quarter, missing the consensus estimate of $3.04 by ($0.06). The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Insight Enterprises had a return on equity of 20.64% and a net margin of 3.07%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 EPS. Analysts anticipate that Insight Enterprises will post 10.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Insight Enterprises

In other news, insider Samuel C. Cowley sold 7,278 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $187.62, for a total value of $1,365,498.36. Following the sale, the insider now directly owns 23,009 shares in the company, valued at approximately $4,316,948.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the sale, the director now directly owns 30,647 shares in the company, valued at approximately $5,680,114.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samuel C. Cowley sold 7,278 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the sale, the insider now owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,918 shares of company stock valued at $3,888,203. 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.