Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.00.

CLMB has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Northcoast Research raised shares of Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Northland Securities initiated coverage on Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday, May 5th.

Climb Global Solutions Trading Up 5.9%

CLMB stock opened at $24.57 on Thursday. Climb Global Solutions has a one year low of $15.24 and a one year high of $36.26. The firm has a 50-day moving average of $21.54 and a two-hundred day moving average of $24.10. The firm has a market capitalization of $457.00 million, a PE ratio of 21.55, a P/E/G ratio of 1.47 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, April 29th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $182.38 million during the quarter, compared to analysts’ expectations of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. On average, equities research analysts anticipate that Climb Global Solutions will post 1.32 earnings per share for the current year.

Insider Transactions at Climb Global Solutions

In other Climb Global Solutions news, Director John R. Mccarthy acquired 4,000 shares of Climb Global Solutions stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average cost of $18.83 per share, with a total value of $75,320.00. Following the purchase, the director owned 85,876 shares in the company, valued at approximately $1,617,045.08. The trade was a 4.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Climb Global Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in shares of Climb Global Solutions in the 4th quarter valued at about $36,000. Bard Associates Inc. acquired a new stake in shares of Climb Global Solutions during the fourth quarter worth approximately $55,000. Tower Research Capital LLC TRC boosted its holdings in shares of Climb Global Solutions by 317.3% during the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after purchasing an additional 422 shares during the period. Peterson Wealth Services grew its position in Climb Global Solutions by 3,267.0% during the first quarter. Peterson Wealth Services now owns 3,569 shares of the company’s stock valued at $71,000 after purchasing an additional 3,463 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Climb Global Solutions by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.