Insight Enterprises (NASDAQ:NSIT) Posts Earnings Results, Misses Estimates By $0.18 EPS

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

Insight Enterprises stock traded down $20.18 during trading on Thursday, reaching $183.71. The company had a trading volume of 174,220 shares, compared to its average volume of 222,782. The firm’s 50-day simple moving average is $212.35 and its 200 day simple moving average is $203.91. Insight Enterprises has a 52 week low of $139.34 and a 52 week high of $228.07. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.45.

Analyst Ratings Changes

A number of research firms have recently commented on NSIT. JPMorgan Chase & Co. cut their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barrington Research restated an “outperform” rating and set a $225.00 target price 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 raised their target price on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th.

Insider Transactions at Insight Enterprises

In related news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 5,460 shares in the company, valued at approximately $1,124,923.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.