IT solutions integrator Insight Enterprises (NASDAQ: NSIT) will be announcing earnings results this Thursday before the bell. Here’s what to look for.
Insight Enterprises beat analysts’ revenue expectations last quarter, reporting revenues of $2.13 billion, up 1.2% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ full-year EPS guidance estimates.
Is Insight Enterprises a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Insight Enterprises’s revenue to grow 3.8% year on year, a reversal from the 3.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Insight Enterprises’s peers in the it distribution & solutions segment, some have already reported their Q2 results, giving us a hint as to what we can expect. TD SYNNEX delivered year-on-year revenue growth of 31%, beating analysts’ expectations by 16.6%, and Connection reported revenues up 12.4%, topping estimates by 11.3%. Connection’s stock price was unchanged following the results.
Read our full analysis of TD SYNNEX’s results here and Connection’s results here.
There has been positive sentiment among investors in the it distribution & solutions segment, with share prices up 7.8% on average over the last month. Insight Enterprises is up 22.8% during the same time and is heading into earnings with an average analyst price target of $107.50 (compared to the current share price of $137.16).
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