Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives $31.00 Consensus PT from Analysts

Climb Global Solutions, Inc. (NASDAQ:CLMB) has received an average recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of equities research analysts have recently weighed in on the stock. Northland Securities assumed coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 price objective on the stock. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Barrington Research reduced their price objective on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a 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. Finally, Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday, April 4th.

Climb Global Solutions Stock Down 2.5%

Climb Global Solutions stock opened at $22.26 on Friday. The firm has a market cap of $410.03 million, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20. Climb Global Solutions has a 52-week low of $18.91 and a 52-week high of $36.26. The company’s 50 day moving average is $22.88 and its two-hundred day moving average is $26.85.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. On average, equities research analysts anticipate that Climb Global Solutions will post 1.33 earnings per share for the current fiscal year.

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 on Monday, March 16th. The shares were sold at an average price of $20.13, for a total value of $684,250.00. Following the sale, the chief executive officer directly owned 294,760 shares in the company, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in Climb Global Solutions during the 3rd quarter worth $27,000. Global Retirement Partners LLC acquired a new stake in Climb Global Solutions during the 4th quarter worth $36,000. Bard Associates Inc. acquired a new stake in Climb Global Solutions during the 4th quarter worth $55,000. Tower Research Capital LLC TRC increased its holdings in shares of Climb Global Solutions by 317.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock valued at $59,000 after acquiring an additional 422 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Climb Global Solutions by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after acquiring an additional 99 shares during the period. 49.72% of the stock is currently owned by institutional investors and hedge funds.

About Climb Global Solutions

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.