Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

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

Insight Enterprises Stock Performance

NSIT opened at $193.74 on Friday. The firm’s fifty day simple moving average is $184.54 and its two-hundred day simple moving average is $174.51. Insight Enterprises has a 52-week low of $121.91 and a 52-week high of $194.57. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.41 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.31.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Insight Enterprises news, Director Kathleen S. Pushor sold 1,790 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total transaction of $331,364.80. Following the sale, the director now directly owns 5,800 shares in the company, valued at approximately $1,073,696. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Richard E. Allen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the transaction, 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 this link. Also, Director Kathleen S. Pushor sold 1,790 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total transaction of $331,364.80. Following the completion of the sale, the director now directly owns 5,800 shares in the company, valued at approximately $1,073,696. The disclosure for this sale can be found here. Insiders have sold 20,918 shares of company stock worth $3,888,203 over the last three months. Company 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.