Insight Enterprises (NASDAQ:NSIT) Announces Earnings Results, Misses Expectations By $0.18 EPS

Insight Enterprises (NASDAQ:NSIT) released its quarterly earnings results on Thursday. The software maker reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.18), Briefing.com reports. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Insight Enterprises had a return on equity of 20.38% and a net margin of 3.38%. Insight Enterprises’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.37 earnings per share. 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 $2.71 during mid-day trading on Friday, hitting $172.21. The company had a trading volume of 562,149 shares, compared to its average volume of 226,871. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.59 and a beta of 1.45. Insight Enterprises has a 12-month low of $139.34 and a 12-month high of $228.07. The company’s fifty day moving average is $210.88 and its 200-day moving average is $203.63. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $225.00 target price on shares of Insight Enterprises in a research report on Friday, September 20th. StockNews.com cut Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. dropped their target price on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price target 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.

Insider Activity

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.