Insight Enterprises (NASDAQ:NSIT) Releases 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 Up 8.6 %

Shares of Insight Enterprises stock opened at $193.74 on Friday. Insight Enterprises has a 1 year low of $121.91 and a 1 year high of $194.57. The firm 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 50-day moving average of $184.54 and a 200 day moving average of $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.

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

Analysts Set New Price Targets

NSIT has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the company a hold rating in a research note on Monday, April 15th. StockNews.com upgraded shares of Insight Enterprises from a hold rating to a buy rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a neutral rating in a research report on Friday. Finally, 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.

Insider Buying and Selling

In other news, Director Richard E. Allen sold 10,000 shares of the business’s 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,853,400.00. Following the completion of the transaction, the director now owns 30,647 shares in the company, valued at $5,680,114.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Samuel C. Cowley sold 7,278 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total value of $1,365,498.36. Following the completion of the sale, the insider now owns 23,009 shares in the company, valued at $4,316,948.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,918 shares of company stock valued at $3,888,203. Corporate 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.