Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

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

Insight Enterprises Trading Up 8.6 %

Insight Enterprises stock opened at $193.74 on Friday. Insight Enterprises has a one year low of $121.91 and a one year high of $194.57. The business’s fifty day moving average is $184.54 and its 200 day moving average is $174.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.23. The stock has a market capitalization of $6.30 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.50.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Insight Enterprises will post 10.68 EPS for the current year.

Wall Street Analyst Weigh In

NSIT has been the subject of a number of research reports. Barrington Research reiterated an outperform rating and set a $211.00 target price on shares of Insight Enterprises in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on Insight Enterprises from $193.00 to $195.00 and gave the stock a neutral rating in a report on Friday. StockNews.com raised Insight Enterprises from a hold rating to a buy rating in a report on Friday. Finally, Stifel Nicolaus raised their target price on Insight Enterprises from $170.00 to $192.00 and gave the stock a hold rating in a research report on Monday, April 15th.

Insider Transactions at Insight Enterprises

In other news, Director Richard E. Allen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total value of $1,853,400.00. Following the transaction, the director now owns 30,647 shares of the company’s stock, valued at $5,680,114.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard E. Allen sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total value of $1,853,400.00. Following the completion of the sale, the director now directly owns 30,647 shares of the company’s stock, valued at $5,680,114.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total transaction of $337,939.50. Following the sale, the chief accounting officer now owns 4,436 shares in the company, valued at $810,324.12. The disclosure for this sale can be found here. Insiders sold 20,918 shares of company stock worth $3,888,203 in the last three months. Corporate insiders own 1.23% of the company’s stock.

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.