Insight Enterprises (NASDAQ:NSIT) Earns Hold Rating from Analysts at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group began coverage on shares of Insight Enterprises (NASDAQ:NSIT) in a research report issued on Wednesday, Marketbeat reports. The firm set a “hold” rating and a $100.00 price target on the software maker’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 13.62% from the company’s current price.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “hold (c-)” rating on shares of Insight Enterprises in a research note on Wednesday, October 8th. Barrington Research set a $120.00 price target on Insight Enterprises in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Insight Enterprises presently has a consensus rating of “Hold” and an average price target of $128.33.

Insight Enterprises Stock Performance

NSIT stock opened at $88.01 on Wednesday. The firm has a 50 day simple moving average of $107.25 and a 200 day simple moving average of $124.45. Insight Enterprises has a 52 week low of $87.45 and a 52 week high of $181.92. The stock has a market cap of $2.73 billion, a P/E ratio of 21.00, a P/E/G ratio of 0.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.26 and a current ratio of 1.29.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, October 30th. The software maker reported $2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.06). Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%.The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $2.19 EPS. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. Insight Enterprises has set its FY 2025 guidance at 9.600-9.900 EPS. Research analysts anticipate that Insight Enterprises will post 9.89 earnings per share for the current fiscal year.

Institutional Trading of Insight Enterprises

Several large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in Insight Enterprises by 64.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 33,158 shares of the software maker’s stock worth $4,973,000 after purchasing an additional 13,051 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Insight Enterprises in the first quarter valued at approximately $1,808,000. Cetera Investment Advisers acquired a new stake in shares of Insight Enterprises in the first quarter worth $261,000. Equitable Trust Co. boosted its holdings in shares of Insight Enterprises by 33.7% during the 1st quarter. Equitable Trust Co. now owns 7,000 shares of the software maker’s stock worth $1,050,000 after buying an additional 1,763 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Insight Enterprises by 244.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 3,100 shares of the software maker’s stock valued at $465,000 after buying an additional 2,200 shares during the last quarter.

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.