Insight Enterprises (NASDAQ:NSIT) Releases Earnings Results

Insight Enterprises (NASDAQ:NSIT - Get Free Report) released its earnings results on Thursday. The software maker reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.18), Briefing.com reports. Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the business posted $2.37 earnings per share. Insight Enterprises's quarterly revenue was down 7.9% compared to the same quarter last year. Insight Enterprises updated its FY24 guidance to $9.40-9.70 EPS and its FY 2024 guidance to 9.400-9.700 EPS.

Insight Enterprises Stock Performance

Shares of Insight Enterprises stock traded down $28.97 during trading on Thursday, reaching $174.92. The company's stock had a trading volume of 701,868 shares, compared to its average volume of 225,282. The business's 50-day moving average price is $212.35 and its 200-day moving average price is $203.91. The firm has a market cap of $5.70 billion, a PE ratio of 21.73, a P/E/G ratio of 1.63 and a beta of 1.45. Insight Enterprises has a 52 week low of $139.34 and a 52 week high of $228.07. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36.

Wall Street Analysts Forecast Growth

NSIT has been the subject of several analyst reports. StockNews.com cut shares of Insight Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, July 5th. Stifel Nicolaus lifted their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a "hold" rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $225.00 price objective on shares of Insight Enterprises in a research report on Friday, September 20th.

Insider Activity

In other news, insider Jennifer M. Vasin sold 739 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares of the company's stock, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 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.