Barrington Research Issues Pessimistic Forecast for Climb Global Solutions (NASDAQ:CLMB) Stock Price

Climb Global Solutions (NASDAQ:CLMB) had its price target reduced by analysts at Barrington Research from $136.00 to $120.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price objective points to a potential upside of 33.73% from the company’s previous close.

Several other equities analysts also recently commented on CLMB. Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen downgraded Climb Global Solutions from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings cut shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $120.00.

Climb Global Solutions Price Performance

CLMB stock traded down $0.85 during midday trading on Thursday, reaching $89.73. 85,134 shares of the company were exchanged, compared to its average volume of 75,575. The firm has a market capitalization of $413.66 million, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.18. Climb Global Solutions has a one year low of $80.08 and a one year high of $145.02. The business has a 50-day moving average price of $113.09 and a two-hundred day moving average price of $118.02.

Shares of Climb Global Solutions are set to split on the morning of Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly minted shares will be distributed to shareholders after the market closes on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last announced its earnings results on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.26 by $0.27. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. The company had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $167.75 million. As a group, analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Institutional Trading of Climb Global Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in shares of Climb Global Solutions during the third quarter valued at approximately $27,000. Global Retirement Partners LLC purchased a new stake in shares of Climb Global Solutions during the 4th quarter valued at about $36,000. Bard Associates Inc. bought a new position in shares of Climb Global Solutions in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC grew its position in Climb Global Solutions by 317.3% during the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock valued at $59,000 after buying an additional 422 shares during the period. Finally, IFP Advisors Inc raised its position 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 acquiring an additional 99 shares during the period. 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.