Climb Global Solutions (NASDAQ:CLMB) Research Coverage Started at Northland Securities

Northland Securities began coverage on shares of Climb Global Solutions (NASDAQ:CLMB) in a research report report published on Monday, MarketBeat reports. The brokerage issued an outperform rating and a $32.00 price objective on the stock.

A number of other research firms also recently weighed in on CLMB. Weiss Ratings downgraded shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen cut shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Barrington Research lowered their target price on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Trading Up 5.4%

Shares of CLMB opened at $20.82 on Monday. The stock’s 50-day moving average price is $26.13 and its two-hundred day moving average price is $28.42. Climb Global Solutions has a 12 month low of $18.91 and a 12 month high of $36.26. The company has a market capitalization of $383.50 million, a PE ratio of 17.91, a PEG ratio of 1.24 and a beta of 1.18.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.38 earnings per share for the quarter, beating 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 company had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $167.75 million. Equities research analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Climb Global Solutions news, CEO Dale Richard Foster sold 34,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. The trade was a 10.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.10% of the company’s stock.

Institutional Trading of Climb Global Solutions

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Climb Global Solutions by 77,066.7% in 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 in the last quarter. Beacon Pointe Advisors LLC boosted its stake in Climb Global Solutions by 5.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company’s stock worth $326,000 after acquiring an additional 164 shares in the last quarter. XTX Topco Ltd acquired a new stake in Climb Global Solutions in the fourth quarter worth $325,000. Man Group plc acquired a new stake in Climb Global Solutions in the fourth quarter worth $861,000. Finally, Evolve Private Wealth LLC bought a new stake in Climb Global Solutions in the fourth quarter valued at $529,000. 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.