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

Insight Enterprises (NASDAQ:NSIT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 9.400-9.700 for the period, compared to the consensus estimate of 10.680. The company issued revenue guidance of -. Insight Enterprises also updated its FY24 guidance to $9.40-9.70 EPS.

Insight Enterprises Stock Performance

Shares of Insight Enterprises stock traded down $21.38 on Thursday, reaching $182.51. 122,055 shares of the company were exchanged, compared to its average volume of 222,534. Insight Enterprises has a 1-year low of $139.34 and a 1-year high of $228.07. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 1.63 and a beta of 1.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.22. The company’s 50-day moving average is $212.44 and its two-hundred day moving average is $203.91.

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 the consensus estimate of $2.37 by ($0.18). Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the company posted $2.37 EPS. The firm’s revenue was down 7.9% on a year-over-year basis. As a group, research analysts expect that Insight Enterprises will post 10.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note 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. Barrington Research restated an “outperform” rating and issued a $225.00 price objective on shares of Insight Enterprises in a report on Friday, September 20th. Finally, 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 research report on Wednesday, July 17th.

Insider Buying and Selling

In other news, insider Jennifer M. Vasin sold 739 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares in the company, valued at $1,124,923.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.