Insight Enterprises (NASDAQ:NSIT) Updates FY 2024 Earnings Guidance

Insight Enterprises (NASDAQ:NSIT) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 10.600-10.900 for the period, compared to the consensus EPS estimate of 10.610. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

NSIT has been the subject of several research reports. StockNews.com cut shares of Insight Enterprises from a buy rating to a hold rating in a research report on Friday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of Insight Enterprises from $188.00 to $193.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the company a hold rating in a report on Monday, April 15th. Finally, Barrington Research reaffirmed an outperform rating and set a $211.00 price target on shares of Insight Enterprises in a research note on Tuesday, April 23rd.

Insight Enterprises Price Performance

NASDAQ NSIT traded up $12.91 during midday trading on Friday, hitting $191.33. The company had a trading volume of 181,253 shares, compared to its average volume of 243,328. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. Insight Enterprises has a twelve month low of $121.91 and a twelve month high of $194.57. The company has a market capitalization of $6.23 billion, a PE ratio of 25.33, a P/E/G ratio of 1.26 and a beta of 1.50. The firm has a 50-day moving average price of $184.37 and a 200-day moving average price of $174.04.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.55. Insight Enterprises had a return on equity of 20.64% and a net margin of 3.07%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts anticipate that Insight Enterprises will post 10.59 earnings per share for the current fiscal year.

Insider Transactions at Insight Enterprises

In other news, Director Kathleen S. Pushor sold 1,790 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.12, for a total value of $331,364.80. Following the completion of the transaction, the director now directly owns 5,800 shares in the company, valued at $1,073,696. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kathleen S. Pushor sold 1,790 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $185.12, for a total transaction of $331,364.80. Following the completion of the transaction, the director now directly owns 5,800 shares of the company’s stock, valued at approximately $1,073,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the sale, the chief accounting officer now directly owns 4,436 shares of the company’s stock, valued at $810,324.12. The disclosure for this sale can be found here. Insiders have sold 20,918 shares of company stock valued at $3,888,203 in the last ninety days. Corporate 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.