Brokerages Set Climb Global Solutions, Inc. (NASDAQ:CLMB) Target Price at $31.00

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) have received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $31.00.

A number of research firms have weighed in on CLMB. 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. Northcoast Research upgraded Climb Global Solutions to a “strong-buy” rating in a research note on Monday. Northland Securities started coverage on Climb Global Solutions in a report on Monday. They issued an “outperform” rating and a $32.00 price target for the company. Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings downgraded Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th.

Insider Buying and Selling at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $20.13, for a total transaction of $684,250.00. Following the completion of the sale, the chief executive officer owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The transaction 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in shares of Climb Global Solutions in the 3rd quarter worth about $27,000. Global Retirement Partners LLC bought a new position in shares of Climb Global Solutions during the fourth quarter worth about $36,000. Bard Associates Inc. acquired a new position in Climb Global Solutions in the fourth quarter worth about $55,000. Tower Research Capital LLC TRC grew its stake in Climb Global Solutions by 317.3% in the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after purchasing an additional 422 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Climb Global Solutions by 18.2% in the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after buying an additional 99 shares during the last quarter. 49.72% of the stock is currently owned by institutional investors.

Climb Global Solutions Stock Down 3.9%

CLMB opened at $20.00 on Tuesday. The firm’s 50 day moving average is $25.90 and its 200-day moving average is $28.36. Climb Global Solutions has a 52-week low of $18.91 and a 52-week high of $36.26. The firm has a market capitalization of $368.40 million, a P/E ratio of 17.20, a P/E/G ratio of 1.31 and a beta of 1.18.

Climb Global Solutions (NASDAQ:CLMB) last announced its 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 net margin of 3.27% and a return on equity of 21.86%. The business had revenue of $193.85 million during the quarter, compared to the consensus estimate of $167.75 million. Equities analysts expect that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

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.