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Chart of the Day: Insight Enterprises - IT Solutions
The Chart of the Day belongs to the information technology distributor Insight Enterprises (NSIT). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/6 the stock gained 22.69%.
Insight Enterprises, Inc., together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services. It also offers cloud and data center transformation; connected workplace; and supply chain optimization solutions. In addition, the company provides software maintenance solutions that offers clients to obtain software upgrades, bug fixes, help desk, and other support services; vendor direct support services; and offers Software-as-a-Service subscription products. Further, it designs, procures, deploys, implements, and manages solutions that combine hardware, software, and services to help businesses. Additionally, the company sources, procures, stages, configures, integrates, tests, refurbishes, and redeploys IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty services. It serves construction technology, enterprise business, financial services, health care and life sciences, manufacturing technology, retails and restaurants, service providers, small to medium business, and travel and tourism industries. The company was founded in 1988 and is headquartered in Chandler, Arizona.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 44.50+Weighted Alpha
- 30.44% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 16.14% in the last month
- Relative Strength Index 82.45%
- Recently traded at $129.03 with 50 day moving average of $108.01
Fundamental Factors:
- Market Cap $ 4.42 billion
- P/E 13.87%
- Revenue expected to grow by 3.40% this year and another 4.80% next year
- Earnings estimated to increase 12.50% next year and continue to increase at an annual rate of 7.54% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts have 2 strong buy and 3 hold opinions in place on this stock
- Analysts have price targets from $135 to $150 with a consensus of $143 over 10% above todays close
- Value Line has a Timeliness rating of 3 (Average) and a 3 to 5 year price range of $130 to $200
- CFRAs Market scope has Buy raring
- 2,380 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
