Analysts Set Expectations for NSIT FY2024 Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT) – Equities research analysts at Barrington Research dropped their FY2024 earnings estimates for Insight Enterprises in a report issued on Monday, November 4th. Barrington Research analyst V. Colicchio now anticipates that the software maker will post earnings of $9.55 per share for the year, down from their previous estimate of $10.75. Barrington Research has a “Outperform” rating and a $205.00 price objective on the stock. The consensus estimate for Insight Enterprises’ current full-year earnings is $9.54 per share. Barrington Research also issued estimates for Insight Enterprises’ Q4 2024 earnings at $2.53 EPS and FY2025 earnings at $10.89 EPS.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.18). The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.37 EPS.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus increased their price target on Insight Enterprises from $192.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. 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.

Insight Enterprises Price Performance

NSIT stock opened at $172.08 on Thursday. The company has a market capitalization of $5.47 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.49 and a beta of 1.48. Insight Enterprises has a 52-week low of $141.73 and a 52-week high of $228.07. The business has a 50-day simple moving average of $207.46 and a two-hundred day simple moving average of $203.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors have recently bought and sold shares of NSIT. Xponance Inc. raised its stake in shares of Insight Enterprises by 2.5% in the second quarter. Xponance Inc. now owns 2,114 shares of the software maker’s stock valued at $419,000 after buying an additional 52 shares during the period. Tevis Investment Management boosted its position in Insight Enterprises by 3.5% during the second quarter. Tevis Investment Management now owns 1,774 shares of the software maker’s stock worth $352,000 after purchasing an additional 60 shares during the period. One Wealth Advisors LLC increased its stake in shares of Insight Enterprises by 4.7% in the third quarter. One Wealth Advisors LLC now owns 1,379 shares of the software maker’s stock worth $297,000 after purchasing an additional 62 shares in the last quarter. Huntington National Bank raised its position in shares of Insight Enterprises by 7.3% in the third quarter. Huntington National Bank now owns 995 shares of the software maker’s stock valued at $214,000 after purchasing an additional 68 shares during the period. Finally, Hanseatic Management Services Inc. lifted its stake in shares of Insight Enterprises by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,854 shares of the software maker’s stock valued at $764,000 after buying an additional 69 shares in the last quarter.

Insider Buying and Selling

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.23% of the stock is owned by 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.