Climb Global Solutions (NASDAQ:CLMB) Price Target Cut to $68.00 by Analysts at Barrington Research

Climb Global Solutions (NASDAQ:CLMB) had its target price lowered by stock analysts at Barrington Research from $76.00 to $68.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s target price would suggest a potential upside of 17.02% from the company’s previous close.

Climb Global Solutions Trading Down 1.2 %

Shares of CLMB stock traded down $0.73 during trading hours on Monday, reaching $58.11. 3,355 shares of the stock traded hands, compared to its average volume of 10,132. Climb Global Solutions has a 1-year low of $37.67 and a 1-year high of $73.25. The business has a fifty day moving average price of $67.13 and a 200 day moving average price of $57.27. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $266.72 million, a PE ratio of 22.18, a PEG ratio of 2.02 and a beta of 0.98.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). Climb Global Solutions had a net margin of 3.26% and a return on equity of 18.93%. The company had revenue of $92.42 million for the quarter, compared to analysts’ expectations of $105.44 million. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities research analysts forecast that Climb Global Solutions will post 2.92 EPS for the current year.

Insider Activity at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total transaction of $229,215.00. Following the transaction, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the sale, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Charles Edward Bass sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the sale, the chief marketing officer now directly owns 37,097 shares of the company’s stock, valued at $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by insiders.

Institutional Trading of Climb Global Solutions

Several large investors have recently added to or reduced their stakes in CLMB. Tower Research Capital LLC TRC grew its position in Climb Global Solutions by 94.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock worth $28,000 after acquiring an additional 245 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Climb Global Solutions in the third quarter worth approximately $95,000. Strs Ohio grew its position in Climb Global Solutions by 177.8% in the third quarter. Strs Ohio now owns 2,500 shares of the company’s stock worth $107,000 after acquiring an additional 1,600 shares in the last quarter. Barclays PLC grew its position in Climb Global Solutions by 23.8% in the third quarter. Barclays PLC now owns 4,707 shares of the company’s stock worth $203,000 after acquiring an additional 904 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in Climb Global Solutions in the fourth quarter worth approximately $218,000. 49.72% of the stock is owned by institutional investors.

About Climb Global Solutions

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.