Insight Enterprises (NASDAQ:NSIT) Updates FY 2024 Earnings Guidance

Insight Enterprises (NASDAQ:NSIT - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 9.400-9.700 for the period, compared to the consensus estimate of 10.680. The company issued revenue guidance of -. Insight Enterprises also updated its FY24 guidance to $9.40-9.70 EPS.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. StockNews.com downgraded Insight Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, July 5th. Barrington Research reissued an "outperform" rating and set a $225.00 target price on shares of Insight Enterprises in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on Insight Enterprises from $233.00 to $225.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Finally, Stifel Nicolaus upped their price target on Insight Enterprises from $192.00 to $200.00 and gave the stock a "hold" rating in a research note on Wednesday, July 17th.

Insight Enterprises Stock Performance

Shares of NASDAQ:NSIT traded down $28.97 during midday trading on Thursday, reaching $174.92. 701,868 shares of the company's stock traded hands, compared to its average volume of 225,282. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 21.73, a P/E/G 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 stock has a 50 day moving average of $212.35 and a 200 day moving average of $203.91.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing analysts' consensus estimates of $2.37 by ($0.18). 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 company posted $2.37 EPS. The firm's revenue was down 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Insight Enterprises will post 10.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jennifer M. Vasin sold 739 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the sale, the insider now owns 5,460 shares in the company, valued at approximately $1,124,923.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.