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

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) have earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com 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 price target among analysts that have updated their coverage on the stock in the last year is $31.00.

Several analysts have recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Wall Street Zen cut Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Northcoast Research upgraded Climb Global Solutions to a “strong-buy” rating in a research report on Monday, March 23rd. Weiss Ratings lowered Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Northland Securities assumed 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.

Climb Global Solutions Stock Down 2.6%

Climb Global Solutions stock opened at $24.76 on Thursday. The company has a market cap of $460.54 million, a price-to-earnings ratio of 21.72, a PEG ratio of 1.60 and a beta of 1.09. The firm’s fifty day moving average is $21.81 and its 200 day moving average is $24.00. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $36.26.

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

Insiders Place Their Bets

In related news, Director John R. Mccarthy purchased 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average cost of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the transaction, the director directly owned 85,876 shares in the company, valued at $1,617,045.08. This represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Climb Global Solutions during the 4th quarter worth about $36,000. Bard Associates Inc. purchased a new stake in Climb Global Solutions in the 4th quarter worth about $55,000. Tower Research Capital LLC TRC raised its position in Climb Global Solutions by 317.3% in the 2nd 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 lifted its stake in Climb Global Solutions by 3,267.0% in the first quarter. Peterson Wealth Services now owns 3,569 shares of the company’s stock worth $71,000 after purchasing an additional 3,463 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Climb Global Solutions by 18.2% in the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after purchasing an additional 99 shares during the last quarter. 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.