Insight Enterprises (NASDAQ:NSIT) Releases Quarterly 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 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 period in the prior year, the firm posted $2.37 EPS. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. 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 Down 10.5 %

Shares of Insight Enterprises stock traded down $21.38 during trading on Thursday, hitting $182.51. The stock had a trading volume of 122,055 shares, compared to its average volume of 222,534. Insight Enterprises has a 1 year low of $139.34 and a 1 year high of $228.07. The stock has a 50 day simple moving average of $212.44 and a 200 day simple moving average of $203.91. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5.95 billion, a PE ratio of 22.96, a P/E/G ratio of 1.63 and a beta of 1.45.

Insider Activity at Insight Enterprises

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.