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

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

A number of research analysts have recently weighed in on the company. Barrington Research lowered their price target on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research report on Monday, March 23rd. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen raised Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Northland Securities began coverage on Climb Global Solutions in a research report on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective for the company.

Climb Global Solutions Trading Down 0.2%

Shares of CLMB stock opened at $22.84 on Friday. Climb Global Solutions has a 1-year low of $18.91 and a 1-year high of $36.26. The company has a market capitalization of $420.71 million, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.44 and a beta of 1.20. The stock’s fifty day simple moving average is $23.03 and its 200-day simple moving average is $27.03.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The business had revenue of $193.85 million for the quarter, compared to the consensus estimate of $167.75 million. On average, sell-side analysts predict that Climb Global Solutions will post 4.14 EPS for the current year.

Insider Transactions at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of Climb Global Solutions stock in a transaction on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the completion of the sale, the chief executive officer owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Trading of Climb Global Solutions

A number of institutional investors have recently bought and sold shares of CLMB. AltraVue Capital LLC acquired a new stake in Climb Global Solutions during the third quarter valued at $13,817,000. Wasatch Advisors LP boosted its position in Climb Global Solutions by 29.5% during the second quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock valued at $30,056,000 after purchasing an additional 63,975 shares during the last quarter. Invesco Ltd. boosted its position in Climb Global Solutions by 2,446.4% during the third quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock valued at $8,800,000 after purchasing an additional 62,700 shares during the last quarter. Tieton Capital Management LLC boosted its position in Climb Global Solutions by 83.9% during the fourth quarter. Tieton Capital Management LLC now owns 111,984 shares of the company’s stock valued at $11,511,000 after purchasing an additional 51,088 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Climb Global Solutions by 41.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock valued at $14,947,000 after purchasing an additional 42,938 shares during the last quarter. Institutional investors and hedge funds 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.