Climb Global Solutions (NASDAQ:CLMB) Earns Outperform Rating from Barrington Research

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 reaffirmed by analysts at Barrington Research in a research note issued on Thursday,Benzinga reports. They presently have a $136.00 target price on the stock. Barrington Research's price objective points to a potential upside of 3.56% from the company's current price.

Climb Global Solutions Price Performance

CLMB stock traded down $1.06 during midday trading on Thursday, hitting $131.32. The stock had a trading volume of 13,204 shares, compared to its average volume of 52,475. The firm has a market cap of $606.70 million, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Climb Global Solutions has a 12-month low of $88.90 and a 12-month high of $144.99. The company's 50-day moving average price is $115.80 and its 200 day moving average price is $110.89.

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

Hedge Funds Weigh In On Climb Global Solutions

Hedge funds have recently made changes to their positions in the stock. Hilltop National Bank acquired a new position in shares of Climb Global Solutions during the 2nd quarter valued at $35,000. IFP Advisors Inc lifted its holdings in shares of Climb Global Solutions by 183.3% during the 2nd quarter. IFP Advisors Inc now owns 544 shares of the company's stock valued at $58,000 after acquiring an additional 352 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Climb Global Solutions by 317.3% during 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 in the last quarter. Banque Transatlantique SA acquired a new position in shares of Climb Global Solutions during the 1st quarter valued at $60,000. Finally, State of Wyoming acquired a new position in shares of Climb Global Solutions during the 4th quarter valued at $64,000. Institutional investors and hedge funds 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.