Long Position on NSIT @ $55.00 on 3/7/2019 (Momentum)

Bullish Flag on $NSITInsight Enterprises, Inc. (NSIT) provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific.

It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.

The company also provides insight managed office that offers desktop and notebook devices coupled with cloud-based productivity solutions; insight managed mobility, which provides tablet and cellular-based devices paired with cloud-based applications and its service desk; insight managed collaboration that allows clients to outsource their complex voice, conferencing, collaboration/team applications, and cloud-based redeployment of technologies; and insight managed deployment, which offers service level agreement-based outsourcing of distributed devices and technology, or edge, deployment, and support.

In addition, it offers hybrid cloud, an on premise converged infrastructure augmented by off-premise public cloud integrated, managed, and secured; and intelligent network that provides WAN, LAN, wireless, and security solutions to connect hybrid cloud, branch infrastructure, and end users. Further, the company provides digital signage, kiosk, tablet, and smartphone endpoints integrated with off-the-shelf software applications; custom-developed applications to enable client-to-customer engagement; and custom-developed mobile, cloud, and IoT applications, as well as cloud, mobility, big data, and security solutions. Additionally, it distributes hardware products; offers software licensing optimization and implementation consulting services; and provides enterprise data center solutions. 

Shares have formed a bullish "flag" formation following the company's latest quarterly report. The firm reported 4th Quarter December 2018 earnings of $1.32 per share on revenue of $1.7 billion. The consensus earnings estimate was $1.12 per share on revenue of $1.8 billion. 

The company said it expects 2019 earnings of $4.75 to $4.85 per share. The current consensus earnings estimate is $4.55 per share for the year ending December 31, 2019. Higher share prices are expected for this stock.

 

Entry Point: $55.00

Stop Loss: $52.25

52-Week Trading Range: $33.10 - $57.93

Target Price: $60.50

 

Updates

6/20/2019 10:36:14 AM

NSIT closed at $57.60

Position closed on 6/20/2019 at price of $57.60 with a 4.73% gain in 105 days.

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