Insight Enterprises (NASDAQ:NSIT) Announces Quarterly Earnings Results

Insight Enterprises (NASDAQ:NSIT) posted its earnings results on Thursday. The software maker reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18), Briefing.com reports. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the company posted $2.37 EPS. 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 Trading Up 0.6 %

Shares of NSIT stock opened at $175.93 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36. Insight Enterprises has a 12-month low of $139.34 and a 12-month high of $228.07. The business has a 50-day moving average price of $212.35 and a two-hundred day moving average price of $203.91. The firm has a market cap of $5.73 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.59 and a beta of 1.45.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NSIT. JPMorgan Chase & Co. cut their target price on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barrington Research reiterated an “outperform” rating and issued a $225.00 price objective on shares of Insight Enterprises in a research note on Friday, September 20th. StockNews.com lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Finally, Stifel Nicolaus upped their price objective on shares of Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 17th.

Insider Buying and Selling

In other news, insider Jennifer M. Vasin sold 739 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.23% of the stock is 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.