Insight Enterprises’ (NSIT) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Insight Enterprises (NASDAQ:NSIT) in a research report report published on Monday,Benzinga reports. The firm currently has a $90.00 target price on the software maker’s stock, down from their previous target price of $117.00.

Several other brokerages have also recently issued reports on NSIT. Wall Street Zen upgraded Insight Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Barrington Research set a $120.00 target price on Insight Enterprises in a research note on Friday, October 31st. Canaccord Genuity Group began coverage on shares of Insight Enterprises in a research report on Wednesday, November 19th. They issued a “hold” rating and a $100.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Insight Enterprises in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Insight Enterprises presently has an average rating of “Hold” and a consensus target price of $103.33.

Insight Enterprises Stock Up 0.8%

NSIT stock opened at $80.27 on Monday. The firm’s 50-day moving average is $93.86 and its two-hundred day moving average is $117.23. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.41 and a beta of 0.93. Insight Enterprises has a 52 week low of $78.02 and a 52 week high of $181.92. The company has a current ratio of 1.30, a quick ratio of 1.27 and a debt-to-equity ratio of 0.88.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.49 by ($0.06). Insight Enterprises had a net margin of 1.72% and a return on equity of 19.20%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business earned $2.19 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Insight Enterprises has set its FY 2025 guidance at 9.600-9.900 EPS. On average, analysts forecast that Insight Enterprises will post 9.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insight Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Insight Enterprises during the 2nd quarter worth approximately $46,972,000. Nomura Holdings Inc. lifted its holdings in shares of Insight Enterprises by 272.6% in the second quarter. Nomura Holdings Inc. now owns 328,205 shares of the software maker’s stock valued at $45,320,000 after purchasing an additional 240,129 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Insight Enterprises by 321.0% in the second quarter. Qube Research & Technologies Ltd now owns 237,201 shares of the software maker’s stock worth $32,754,000 after buying an additional 180,860 shares during the period. Vanguard Group Inc. grew its holdings in shares of Insight Enterprises by 4.6% during the third quarter. Vanguard Group Inc. now owns 4,091,041 shares of the software maker’s stock valued at $463,965,000 after buying an additional 179,599 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Insight Enterprises by 114.2% during the second quarter. Jane Street Group LLC now owns 285,248 shares of the software maker’s stock valued at $39,388,000 after buying an additional 152,064 shares during the period.

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.