Climb Global Solutions, Inc. (NASDAQ:CLMB) Stock Has Consensus Price Target of $31.00 According to Brokerages

Climb Global Solutions, Inc. (NASDAQ:CLMB) has received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.00.

A number of analysts recently commented on the company. Wall Street Zen upgraded Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th.

Climb Global Solutions Price Performance

NASDAQ:CLMB opened at $33.02 on Friday. Climb Global Solutions has a 1-year low of $15.24 and a 1-year high of $35.07. The firm’s fifty day moving average price is $29.56 and its 200 day moving average price is $25.10. The firm has a market cap of $616.15 million, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Climb Global Solutions had a return on equity of 18.87% and a net margin of 2.88%. The business had revenue of $174.21 million during the quarter, compared to the consensus estimate of $174.07 million. As a group, analysts expect that Climb Global Solutions will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMB. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Climb Global Solutions by 38.6% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 20,043 shares of the company’s stock valued at $465,000 after buying an additional 5,587 shares during the last quarter. IFP Advisors Inc increased its holdings in Climb Global Solutions by 47.0% in the second quarter. IFP Advisors Inc now owns 4,614 shares of the company’s stock valued at $107,000 after buying an additional 1,476 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Climb Global Solutions by 44.1% during the 2nd quarter. Ancora Advisors LLC now owns 32,470 shares of the company’s stock worth $754,000 after buying an additional 9,938 shares during the last quarter. Flputnam Investment Management Co. bought a new stake in shares of Climb Global Solutions in the 2nd quarter valued at approximately $481,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Climb Global Solutions during the 2nd quarter valued at approximately $278,000. 49.72% of the stock is owned by institutional investors and hedge funds.

About Climb Global Solutions

Climb Global Solutions, Inc is a technology solutions provider and specialty distributor that connects technology vendors with resellers, managed service providers, system integrators and other channel partners. The company focuses on complex and emerging technology markets, helping partners access products, services and support from a range of technology publishers and manufacturers.

Its offerings include cybersecurity, networking, data management, virtualization, cloud computing, software and information technology infrastructure solutions.