Barrington Research Reaffirms "Outperform" Rating for Climb Global Solutions (NASDAQ:CLMB)

Key Points

• Barrington Research has reaffirmed its "outperform" rating for Climb Global Solutions (NASDAQ:CLMB), setting a price target of $136.00, indicating an expected upside of 18.29% from the current stock price.
• Climb Global Solutions reported $1.39 earnings per share for the last quarter, significantly surpassing the consensus estimate of $0.90, with strong revenue of $159.28 million compared to expectations of $113.25 million.
• Institutional investors hold 49.72% of Climb Global Solutions' stock, with several firms increasing their stakes in recent quarters, highlighting growing interest in the company.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Barrington Research in a report released on Monday,Benzinga reports. They presently have a $136.00 price objective on the stock. Barrington Research's price objective points to a potential upside of 18.29% from the company's current price.

Climb Global Solutions Stock Up 1.3%

Shares of NASDAQ CLMB opened at $114.97 on Monday. Climb Global Solutions has a 52 week low of $78.20 and a 52 week high of $144.99. The firm's fifty day moving average is $105.95 and its 200 day moving average is $111.26. The company has a market cap of $530.82 million, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%. The firm had revenue of $159.28 million for the quarter, compared to analysts' expectations of $113.25 million. Equities research analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current year.

Institutional Trading of Climb Global Solutions

Hedge funds have recently modified their holdings of the business. Hilltop National Bank bought a new stake in Climb Global Solutions in the second quarter worth $35,000. Summit Investment Advisors Inc. boosted its holdings in Climb Global Solutions by 28.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 440 shares of the company's stock worth $56,000 after acquiring an additional 97 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Climb Global Solutions by 200.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 477 shares of the company's stock worth $60,000 after acquiring an additional 318 shares in the last quarter. State of Wyoming bought a new stake in Climb Global Solutions in the fourth quarter worth $64,000. Finally, IFP Advisors Inc boosted its holdings in Climb Global Solutions by 183.3% in the second quarter. IFP Advisors Inc now owns 544 shares of the company's stock worth $58,000 after acquiring an additional 352 shares in the last quarter. Institutional investors own 49.72% of the company's stock.

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.

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