Insight Enterprises (NASDAQ:NSIT) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Insight Enterprises (NASDAQ:NSIT) issued its quarterly earnings results on Thursday. The software maker reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.18), Briefing.com reports. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. Insight Enterprises’s revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.37 earnings per share. Insight Enterprises updated its FY24 guidance to $9.40-9.70 EPS and its FY 2024 guidance to 9.400-9.700 EPS.

Insight Enterprises Price Performance

NASDAQ:NSIT opened at $172.21 on Friday. Insight Enterprises has a 1-year low of $139.34 and a 1-year high of $228.07. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $210.88 and a 200 day simple moving average of $203.79. 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $225.00 price target on shares of Insight Enterprises in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their price target on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th.

Insider Activity at Insight Enterprises

In related news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the transaction, the insider now directly owns 5,460 shares of the company’s stock, valued at approximately $1,124,923.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.23% of the stock is owned by company insiders.

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.