Climb Global Solutions' (CLMB) "Outperform" Rating Reiterated at Barrington Research

Key Points

• Barrington Research reiterated an "Outperform" rating on CLMB with a $30 price target, implying roughly a 34.8% upside from the prior close.
• Climb Global beat recent quarterly estimates (EPS $1.53 vs $1.26 expected; revenue $193.85M vs $167.75M) and the stock trades around $22.26 with a market cap of about $410M and a P/E of 19.15.
• CEO Dale Richard Foster sold 34,000 shares on March 16, reducing his stake by 10.34%; insiders own 6.10% of the stock while institutional investors hold roughly 49.72%.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Barrington Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $30.00 price target on the stock. Barrington Research's price objective points to a potential upside of 34.77% from the company's previous close.

Several other brokerages have also recently issued reports on CLMB. Northcoast Research raised shares of Climb Global Solutions to a "strong-buy" rating in a research note on Monday, March 23rd. Wall Street Zen raised shares of Climb Global Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Weiss Ratings cut shares of Climb Global Solutions from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, January 12th. Zacks Research raised shares of Climb Global Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Finally, Northland Securities started coverage on shares of Climb Global Solutions in a research note on Monday, March 23rd. They set an "outperform" rating and a $32.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Climb Global Solutions Stock Down 2.5%

CLMB stock opened at $22.26 on Tuesday. Climb Global Solutions has a 52 week low of $18.91 and a 52 week high of $36.26. The stock has a market capitalization of $410.03 million, a P/E ratio of 19.15, a P/E/G ratio of 1.44 and a beta of 1.20. The firm has a 50-day simple moving average of $22.88 and a 200-day simple moving average of $26.85.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $193.85 million during the quarter, compared to analysts' expectations of $167.75 million. On average, analysts expect that Climb Global Solutions will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 34,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 294,760 shares of the company's stock, valued at $5,932,045. This represents a 10.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Climb Global Solutions

Several hedge funds have recently made changes to their positions in CLMB. State of Alaska Department of Revenue acquired a new position in shares of Climb Global Solutions in the 3rd quarter worth approximately $27,000. Global Retirement Partners LLC acquired a new position in shares of Climb Global Solutions in the 4th quarter worth approximately $36,000. Bard Associates Inc. acquired a new position in shares of Climb Global Solutions in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC lifted 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 worth $59,000 after acquiring an additional 422 shares during the last quarter. Finally, IFP Advisors Inc lifted 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 worth $90,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other 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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