Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

Insight Enterprises (NASDAQ:NSIT - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.60-10.90 for the period, compared to the consensus earnings per share estimate of $10.61.

Analysts Set New Price Targets

Several brokerages recently commented on NSIT. Stifel Nicolaus raised their target price on Insight Enterprises from $170.00 to $192.00 and gave the company a hold rating in a report on Monday, April 15th. Barrington Research reiterated an outperform rating and set a $211.00 target price on shares of Insight Enterprises in a report on Tuesday, April 23rd. StockNews.com downgraded Insight Enterprises from a buy rating to a hold rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. raised their target price on Insight Enterprises from $188.00 to $193.00 and gave the company a neutral rating in a report on Thursday, April 11th.

Insight Enterprises Stock Performance

Shares of NASDAQ NSIT traded up $5.20 during trading on Thursday, reaching $178.42. The stock had a trading volume of 456,421 shares, compared to its average volume of 244,099. Insight Enterprises has a one year low of $120.15 and a one year high of $194.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.28. The stock has a market cap of $5.81 billion, a PE ratio of 23.63, a P/E/G ratio of 1.33 and a beta of 1.50. The firm's 50 day moving average price is $184.37 and its two-hundred day moving average price is $174.04.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The software maker reported $2.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.04 by ($0.06). Insight Enterprises had a net margin of 3.07% and a return on equity of 20.64%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. On average, research analysts forecast that Insight Enterprises will post 10.59 earnings per share for the current fiscal year.

Insider Activity at Insight Enterprises

In related news, insider Samuel C. Cowley sold 7,278 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the completion of the transaction, the insider now owns 23,009 shares in the company, valued at approximately $4,316,948.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the business's stock in a transaction on 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 approximately $5,680,114.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel C. Cowley sold 7,278 shares of the business's stock in a transaction on 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 transaction, the insider now owns 23,009 shares of the company's stock, valued at approximately $4,316,948.58. The disclosure for this sale can be found here. Insiders sold 20,918 shares of company stock worth $3,888,203 in the last 90 days. 1.23% of the stock is currently owned by company insiders.

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.