Analysts Stay Cautious but See Big Upside for Insight Enterprises, Inc. (NSIT)

Insight Enterprises, Inc. (NASDAQ:NSIT) is among the best hardware stocks to buy according to analysts. As of December 8, consensus reflects a cautious outlook for Insight Enterprises, Inc. (NASDAQ:NSIT) as 60% of the analysts covering the stock have assigned it a‘Hold’ or equivalent rating. That said, the consensus 1-year median price target of $117 implies a potential upside of 38.89%.

According to TheFly, Luke Morison from Canaccord began coverage of Insight Enterprises, Inc. (NASDAQ:NSIT) on November 19, assigning a ‘Hold’ rating and a $100 price target, implying nearly 18% upside from the current price.

Earlier on October 30, Insight Enterprises, Inc. (NASDAQ:NSIT) announced its third-quarter results, with EPS and revenue outperforming expectations. The company reported an EPS of $2.43, missing the estimate by $0.06, and delivered revenue of $2 billion, lagging the forecast by $0.15 billion. Yet, the company’s focus on AI and cybersecurity, as evident by recent acquisitions, positions it well in the emerging sectors, management outlined.

Looking ahead, Insight Enterprises, Inc. (NASDAQ:NSIT) expects a modest improvement in demand from large clients. Management has guidance of a flat gross profit for hardware and a slight increase in cloud services. With this in mind, the full-year EPS projection is $9.60 to $9.90.

Insight Enterprises, Inc. (NASDAQ:NSIT) is an Arizona-based provider of information technology, hardware, software, and related services. Founded in 1988, the company is committed to “accelerating digital transformation.”

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