Insight Enterprises (NASDAQ:NSIT) Issues FY24 Earnings Guidance

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

Insight Enterprises Trading Up 8.6 %

NASDAQ:NSIT opened at $193.74 on Friday. 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 has a 1 year low of $121.91 and a 1 year high of $194.57. The stock has a market cap of $6.30 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.41 and a beta of 1.50. The stock has a 50-day simple moving average of $184.54 and a 200-day simple moving average of $174.51.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 EPS for the quarter, topping the consensus estimate of $1.82 by $0.55. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts anticipate that Insight Enterprises will post 10.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on NSIT. JPMorgan Chase & Co. lifted their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the company a neutral rating in a report on Friday. Barrington Research reissued an outperform rating and set a $211.00 price target on shares of Insight Enterprises in a research note on Tuesday, April 23rd. Stifel Nicolaus raised their price objective on Insight Enterprises from $170.00 to $192.00 and gave the company a hold rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded Insight Enterprises from a hold rating to a buy rating in a research report on Friday.

Insider Buying and Selling

In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total value of $1,853,400.00. Following the transaction, the director now directly owns 30,647 shares in the company, valued at approximately $5,680,114.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Samuel C. Cowley sold 7,278 shares of Insight Enterprises 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 completion of the sale, the insider now owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard E. Allen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total value of $1,853,400.00. Following the completion of the sale, the director now directly owns 30,647 shares in the company, valued at $5,680,114.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,918 shares of company stock worth $3,888,203. 1.23% of the stock is owned by corporate 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.