Insight Enterprises (NASDAQ:NSIT) Updates FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several brokerages recently weighed in on NSIT. JPMorgan Chase & Co. upped their price target on Insight Enterprises from $193.00 to $195.00 and gave the stock a neutral rating in a research note on Friday. Stifel Nicolaus increased their price target on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a hold rating in a research note on Monday, April 15th. StockNews.com raised shares of Insight Enterprises from a hold rating to a buy rating in a research note on Friday. Finally, 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.

Insight Enterprises Stock Up 8.6 %

NSIT stock opened at $193.74 on Friday. The business’s 50-day moving average is $184.54 and its two-hundred day moving average is $174.51. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.41 and a beta of 1.50. Insight Enterprises has a fifty-two week low of $121.91 and a fifty-two week high of $194.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.23 and a current ratio of 1.27.

Insight Enterprises (NASDAQ:NSIT) last released 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. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts forecast that Insight Enterprises will post 10.68 earnings per share for the current year.

Insider Buying and Selling at Insight Enterprises

In related news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the completion of the transaction, the chief accounting officer now owns 4,436 shares of the company’s stock, valued at approximately $810,324.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Insight Enterprises news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total transaction of $337,939.50. Following the completion of the sale, the chief accounting officer now directly owns 4,436 shares of the company’s stock, valued at approximately $810,324.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 directly owns 30,647 shares in the company, valued at approximately $5,680,114.98. The disclosure for this sale can be found here. Insiders have sold 20,918 shares of company stock valued at $3,888,203 over the last 90 days. 1.23% of the stock is currently owned by corporate 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.