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 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.

Insight Enterprises Stock Down 3.1 %

Shares of Insight Enterprises stock opened at $203.89 on Thursday. The company has a market cap of $6.64 billion, a P/E ratio of 25.33, a PEG 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. Insight Enterprises has a one year low of $139.34 and a one year high of $228.07. The firm has a fifty day moving average of $212.44 and a two-hundred day moving average of $203.91.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 EPS. On average, analysts forecast that Insight Enterprises will post 10.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barrington Research reiterated an “outperform” rating and issued a $225.00 price target on shares of Insight Enterprises in a report on Friday, September 20th. Stifel Nicolaus increased their price target on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, July 5th.

Insider Buying and Selling at Insight Enterprises

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the transaction, the insider now directly owns 5,460 shares in the company, valued at approximately $1,124,923.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.23% of the stock is currently owned by 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.