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 guidance of 9.400-9.700 for the period, compared to the consensus earnings per share 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 Trading Down 1.5 %

NSIT traded down $2.71 during trading hours on Friday, reaching $172.21. 562,149 shares of the company’s stock traded hands, 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 firm 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. The firm has a market capitalization of $5.61 billion, a PE ratio of 21.66, a PEG ratio of 1.37 and a beta of 1.48.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NSIT. Barrington Research reaffirmed an “outperform” rating and set a $225.00 target price on shares of Insight Enterprises in a research report on Friday, September 20th. Stifel Nicolaus increased their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 2nd.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the firm’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 $1,124,923.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.