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

Climb Global Solutions (NASDAQ:CLMB) had its price target lowered by equities researchers at Barrington Research from $76.00 to $68.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target indicates a potential upside of 17.02% from the company’s current price.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB traded down $0.73 during mid-day trading on Monday, hitting $58.11. The stock had a trading volume of 3,355 shares, compared to its average volume of 10,132. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.09. The company has a 50 day moving average of $67.13 and a two-hundred day moving average of $57.27. Climb Global Solutions has a twelve month low of $37.67 and a twelve month high of $73.25. The firm has a market cap 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 posted its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.15). Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. The firm 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 company earned $0.74 earnings per share. Research analysts predict that Climb Global Solutions will post 2.92 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in Climb Global Solutions by 94.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Climb Global Solutions during the third quarter worth about $95,000. Strs Ohio raised its holdings in Climb Global Solutions by 177.8% during the third quarter. Strs Ohio now owns 2,500 shares of the company’s stock worth $107,000 after purchasing an additional 1,600 shares in the last quarter. Barclays PLC raised its holdings in Climb Global Solutions by 23.8% during the third quarter. Barclays PLC now owns 4,707 shares of the company’s stock worth $203,000 after purchasing an additional 904 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in Climb Global Solutions during the fourth quarter worth about $218,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

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.