Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

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

Insight Enterprises Stock Down 1.5 %

Shares of Insight Enterprises stock traded down $2.71 on Friday, reaching $172.21. The stock had a trading volume of 562,149 shares, compared to its average volume of 276,908. The company has a 50 day moving average price of $210.88 and a 200 day moving average price of $203.63. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. Insight Enterprises has a 1 year low of $139.34 and a 1 year high of $228.07. The stock has a market capitalization of $5.61 billion, a P/E 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 quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the firm earned $2.37 EPS. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, equities research analysts forecast that Insight Enterprises will post 10.67 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NSIT shares. Barrington Research reaffirmed 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 lifted their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their target price 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. Finally, StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th.

Insider Buying and Selling

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction that occurred 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 directly owns 5,460 shares in the company, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.23% of the stock is owned by company insiders.

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.