Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

Insight Enterprises (NASDAQ:NSIT) updated its FY24 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

NSIT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Stifel Nicolaus lifted their price target 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, Barrington Research reissued an “outperform” rating and set a $225.00 price objective on shares of Insight Enterprises in a report on Friday, September 20th.

Insight Enterprises Price Performance

NASDAQ NSIT traded down $2.71 during trading on Friday, reaching $172.21. The company’s stock had a trading volume of 562,149 shares, compared to its average volume of 276,908. The firm has a fifty day moving average of $210.88 and a 200 day moving average of $203.63. Insight Enterprises has a one year low of $139.34 and a one year high of $228.07. The stock has a market capitalization of $5.61 billion, a PE ratio of 21.66, a P/E/G ratio of 1.37 and a beta of 1.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.19.

Insight Enterprises (NASDAQ:NSIT) last released 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). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the firm earned $2.37 EPS. Insight Enterprises’s quarterly revenue was down 7.9% on a year-over-year basis. Analysts expect that Insight Enterprises will post 10.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the transaction, the insider now owns 5,460 shares in the company, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.