JPMorgan Chase & Co. Reaffirms “Underweight” Rating for Insight Enterprises (NASDAQ:NSIT)

Insight Enterprises (NASDAQ:NSIT)‘s stock had its “underweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued on Monday,Benzinga reports. They currently have a $90.00 target price on the software maker’s stock, down from their prior target price of $117.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.04% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen raised shares of Insight Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Insight Enterprises in a research note on Wednesday, October 8th. Barrington Research set a $120.00 price objective on Insight Enterprises in a report on Friday, October 31st. Finally, Canaccord Genuity Group started coverage on Insight Enterprises in a report on Wednesday, November 19th. They set a “hold” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.33.

Insight Enterprises Stock Performance

NSIT opened at $79.62 on Monday. Insight Enterprises has a 52-week low of $78.02 and a 52-week high of $181.92. The company has a quick ratio of 1.27, a current ratio of 1.30 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.47 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 0.41 and a beta of 0.93. The firm’s 50-day moving average price is $94.47 and its 200-day moving average price is $117.49.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, October 30th. The software maker reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.06). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.15 billion. Insight Enterprises had a return on equity of 19.20% and a net margin of 1.72%.The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.19 earnings per share. Insight Enterprises has set its FY 2025 guidance at 9.600-9.900 EPS. As a group, equities analysts anticipate that Insight Enterprises will post 9.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Insight Enterprises during the third quarter worth $48,000. MTM Investment Management LLC purchased a new stake in shares of Insight Enterprises during the 2nd quarter worth about $55,000. Covestor Ltd grew its position in shares of Insight Enterprises by 24.3% during the 3rd quarter. Covestor Ltd now owns 665 shares of the software maker’s stock valued at $75,000 after acquiring an additional 130 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Insight Enterprises by 26.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 775 shares of the software maker’s stock valued at $107,000 after acquiring an additional 160 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Insight Enterprises in the 3rd quarter valued at about $116,000.

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.