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

Key Points

• Barrington Research has restated its "outperform" rating for Climb Global Solutions (NASDAQ: CLMB) with a price target of $136.00, indicating a potential upside of 7.09% from its current price.
• Climb Global Solutions reported $1.39 EPS for the last quarter, significantly exceeding analysts' expectations of $0.90, alongside a revenue of $159.28 million compared to the projected $113.25 million.
• Institutional investors hold 49.72% of Climb Global Solutions, with notable increases in investments from firms like Ameriprise Financial and Deutsche Bank during the last quarter.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Barrington Research in a research note issued on Thursday,Benzinga reports. They presently have a $136.00 price objective on the stock. Barrington Research's price target points to a potential upside of 7.09% from the company's current price.

Climb Global Solutions Stock Up 1.4%

Shares of NASDAQ:CLMB opened at $127.00 on Thursday. The company has a market cap of $586.74 million, a P/E ratio of 26.35, a PEG ratio of 2.03 and a beta of 1.01. Climb Global Solutions has a 52 week low of $84.39 and a 52 week high of $144.99. The company has a 50-day moving average price of $114.57 and a 200 day moving average price of $110.84.

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

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new position in shares of Climb Global Solutions during the 4th quarter worth approximately $209,000. Northern Trust Corp raised its position in shares of Climb Global Solutions by 0.3% during the 4th quarter. Northern Trust Corp now owns 48,768 shares of the company's stock worth $6,181,000 after purchasing an additional 137 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Climb Global Solutions by 81.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,965 shares of the company's stock worth $2,150,000 after purchasing an additional 7,616 shares during the last quarter. Bank of America Corp DE raised its position in shares of Climb Global Solutions by 40.1% during the 4th quarter. Bank of America Corp DE now owns 4,149 shares of the company's stock worth $526,000 after purchasing an additional 1,187 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Climb Global Solutions by 65.0% during the 4th quarter. Deutsche Bank AG now owns 3,800 shares of the company's stock worth $482,000 after purchasing an additional 1,497 shares during the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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