Climb Global Solutions (NASDAQ:CLMB) Reaches New 52-Week High – Should You Buy?

Climb Global Solutions, Inc. (NASDAQ:CLMB) shares hit a new 52-week high during trading on Wednesday. The company traded as high as $43.30 and last traded at $43.72, with a volume of 7,086 shares trading hands. The stock had previously closed at $42.38.

Wall Street Analysts Forecast Growth

CLMB has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Climb Global Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.00.

Climb Global Solutions Trading Down 7.5%

The company’s 50-day moving average price is $32.00 and its two-hundred day moving average price is $26.09. The company has a market cap of $743.15 million, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 1.76 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, October 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Climb Global Solutions had a net margin of 3.08% and a return on equity of 19.56%. The business had revenue of $220.31 million for the quarter, compared to the consensus estimate of $180.98 million. Equities analysts forecast that Climb Global Solutions, Inc. will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Choreo LLC lifted its stake in Climb Global Solutions by 1.4% during the third quarter. Choreo LLC now owns 276,533 shares of the company’s stock valued at $8,884,000 after buying an additional 3,807 shares in the last quarter. Schwartz Investment Counsel Inc. acquired a new position in shares of Climb Global Solutions in the third quarter worth about $252,000. Flagship Harbor Advisors LLC boosted its holdings in shares of Climb Global Solutions by 15.6% in the third quarter. Flagship Harbor Advisors LLC now owns 14,783 shares of the company’s stock worth $475,000 after buying an additional 1,991 shares during the period. Peterson Wealth Services boosted its holdings in shares of Climb Global Solutions by 2.8% in the third quarter. Peterson Wealth Services now owns 42,723 shares of the company’s stock worth $1,372,000 after buying an additional 1,150 shares during the period. Finally, Lakewood Asset Management LLC increased its position in shares of Climb Global Solutions by 5.5% in the third quarter. Lakewood Asset Management LLC now owns 18,845 shares of the company’s stock worth $605,000 after acquiring an additional 990 shares in the last quarter. Institutional investors own 49.72% of the company’s stock.

About Climb Global Solutions

Climb Global Solutions, Inc (NASDAQ:CLMB) is a global value-added distributor of information technology products and services. The company connects technology vendors with resellers, managed service providers, systems integrators and other channel partners, helping them market and deliver specialized technology solutions to business and government customers.

Climb’s portfolio includes cybersecurity, networking, data management, virtualization, cloud computing, software development and other enterprise technology solutions.