Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy” across five brokerages, with two buys, one strong buy, and two holds. The average 12-month price target is $31.00, versus a recent share price of $25.46.
• Climb Global Solutions reported quarterly revenue of $182.38 million, exceeding the $151.33 million consensus estimate, but earnings per share of $0.19 missed expectations of $0.23.
• Insider and institutional sentiment was positive: a director purchased 4,000 shares, while several funds increased their holdings. Institutions and hedge funds collectively own 49.72% of the company.

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) has earned an average rating of "Moderate Buy" from the five brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.00.

Several equities analysts have weighed in on CLMB shares. Weiss Ratings downgraded shares of Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Climb Global Solutions from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Barrington Research reiterated an "outperform" rating and issued a $30.00 price target on shares of Climb Global Solutions in a research report on Tuesday, May 5th.

Insider Activity

In related news, Director John R. Mccarthy bought 4,000 shares of Climb Global Solutions stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average price of $18.83 per share, with a total value of $75,320.00. Following the purchase, the director owned 85,876 shares in the company, valued at $1,617,045.08. This represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP lifted its position in shares of Climb Global Solutions by 13.8% in the second quarter. Wasatch Advisors LP now owns 691,360 shares of the company's stock valued at $16,046,000 after acquiring an additional 83,680 shares in the last quarter. Bank of America Corp DE increased its position in Climb Global Solutions by 261.7% during the 1st quarter. Bank of America Corp DE now owns 17,627 shares of the company's stock worth $349,000 after purchasing an additional 12,753 shares in the last quarter. Quantinno Capital Management LP raised its stake in Climb Global Solutions by 77.8% in the 1st quarter. Quantinno Capital Management LP now owns 12,668 shares of the company's stock valued at $251,000 after purchasing an additional 5,543 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in Climb Global Solutions by 167.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 192,072 shares of the company's stock valued at $3,807,000 after purchasing an additional 120,204 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its holdings in Climb Global Solutions by 309.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company's stock valued at $10,934,000 after purchasing an additional 416,948 shares in the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

Climb Global Solutions Price Performance

Shares of CLMB stock opened at $25.46 on Monday. The stock has a market cap of $473.56 million, a P/E ratio of 22.33, a P/E/G ratio of 1.61 and a beta of 1.09. Climb Global Solutions has a fifty-two week low of $15.24 and a fifty-two week high of $36.26. The business has a fifty day simple moving average of $23.22 and a 200-day simple moving average of $23.94.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $182.38 million during the quarter, compared to analysts' expectations of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. On average, sell-side analysts anticipate that Climb Global Solutions will post 1.32 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.