B.Riley FBR analyst Marc Wiesenberger reiterated a Buy rating on Insight Enterprises (NSIT) today and set a price target of $79. The company’s shares closed last Monday at $52.37.
Wiesenberger commented:
“Enterprises (NSIT, $79 PT) announced that it completed the acquisition of PCM, Inc. (PCMI) for $35.00 per share, and as such PCMI’s shares ceased trading on the NASDAQ, and we are therefore dropping coverage of PCMI. Organically growing both technical capabilities and clients at scale can be challenging, which is why we believe Insight’s decision to acquire PCMI in its largest deal to date satisfies both criteria and positions the company to expand its growing service offerings to the SMB market which historically was not Insight’s primary focus.”
According to TipRanks.com, Wiesenberger is ranked #655 out of 5551 analysts.
Currently, the analyst consensus on Insight Enterprises is a Moderate Buy with an average price target of $69, which is a 32.1% upside from current levels. In a report issued on September 12, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $68 price target.
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Insight Enterprises’ market cap is currently $1.87B and has a P/E ratio of 11.20. The company has a Price to Book ratio of 1.74.
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Insight Enterprises, Inc. is a global information technology, which engages in the provision of helping businesses of all sizes, government organizations, and healthcare and educational institutions. It operates through the following geographical segments: North America; Europe, the Middle East and Africa; and Asia-Pacific. The company was founded by Eric J.
