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

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

A number of equities research analysts recently commented on CLMB shares. Barrington Research lowered their price target on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Northland Securities assumed coverage on shares of Climb Global Solutions in a research report on Monday. They issued an “outperform” rating and a $32.00 price objective for the company. Finally, Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a research note on Monday.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB opened at $20.01 on Tuesday. The stock has a market cap of $92.25 million, a price-to-earnings ratio of 4.30, a PEG ratio of 1.24 and a beta of 1.18. Climb Global Solutions has a fifty-two week low of $18.91 and a fifty-two week high of $36.26. The firm’s 50-day simple moving average is $26.55 and its 200 day simple moving average is $28.56.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The firm had revenue of $193.85 million during 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 Buying and Selling

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

Institutional Trading of Climb Global Solutions

Several hedge funds have recently added to or reduced their stakes in CLMB. Caitong International Asset Management Co. Ltd grew its position in shares of Climb Global Solutions by 77,066.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,315 shares of the company’s stock valued at $238,000 after acquiring an additional 2,312 shares during the period. Beacon Pointe Advisors LLC lifted its stake in Climb Global Solutions by 5.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company’s stock valued at $326,000 after purchasing an additional 164 shares during the last quarter. XTX Topco Ltd purchased a new position in Climb Global Solutions in the fourth quarter valued at approximately $325,000. Man Group plc bought a new position in Climb Global Solutions during the fourth quarter valued at $861,000. Finally, Evolve Private Wealth LLC purchased a new stake in Climb Global Solutions in the fourth quarter worth $529,000. 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.