Climb Global Solutions (NASDAQ:CLMB) Given Outperform Rating at Barrington Research

Key Points

• Climb Global Solutions (NASDAQ:CLMB) has been given an "outperform" rating by Barrington Research, with a price target of $136.00, indicating a potential upside of 37.74% from its last closing price.
• The company's recent quarterly earnings showed an EPS of $0.86, missing the consensus estimate of $0.89, but exceeding revenue expectations with $138.04 million reported.
• Recent insider trading activity includes a significant stock sale by Director Greg Scorziello, who sold 5,767 shares, reducing his ownership by 76.48%.
• Institutional investors currently hold 49.72% of Climb Global Solutions' stock, reflecting a trend of increased investment in the company.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Barrington Research in a research note issued on Friday,Benzinga reports. They currently have a $136.00 price objective on the stock. Barrington Research's target price points to a potential upside of 37.74% from the stock's previous close.

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB traded up $0.58 during midday trading on Friday, hitting $98.74. 29,223 shares of the company's stock were exchanged, compared to its average volume of 51,952. Climb Global Solutions has a twelve month low of $59.85 and a twelve month high of $144.99. The company has a market cap of $454.18 million, a PE ratio of 23.12, a P/E/G ratio of 1.63 and a beta of 0.95. The firm's fifty day simple moving average is $106.15 and its 200-day simple moving average is $113.28.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.03). The firm had revenue of $138.04 million for the quarter, compared to analyst estimates of $96.86 million. Climb Global Solutions had a return on equity of 28.34% and a net margin of 3.83%. Equities analysts anticipate that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greg Scorziello sold 5,767 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $100.63, for a total transaction of $580,333.21. Following the transaction, the director owned 1,774 shares of the company's stock, valued at $178,517.62. This represents a 76.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Climb Global Solutions

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Climb Global Solutions by 3.3% in the first quarter. Vanguard Group Inc. now owns 240,449 shares of the company's stock valued at $26,632,000 after acquiring an additional 7,737 shares in the last quarter. De Lisle Partners LLP increased its stake in Climb Global Solutions by 8.4% in the first quarter. De Lisle Partners LLP now owns 224,588 shares of the company's stock valued at $24,822,000 after purchasing an additional 17,308 shares during the last quarter. Wasatch Advisors LP increased its stake in Climb Global Solutions by 1.4% in the fourth quarter. Wasatch Advisors LP now owns 122,723 shares of the company's stock valued at $15,555,000 after purchasing an additional 1,645 shares during the last quarter. Invesco Ltd. increased its stake in Climb Global Solutions by 11.5% in the fourth quarter. Invesco Ltd. now owns 95,199 shares of the company's stock valued at $12,066,000 after purchasing an additional 9,853 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Climb Global Solutions by 0.3% in the fourth quarter. Northern Trust Corp now owns 48,768 shares of the company's stock valued at $6,181,000 after purchasing an additional 137 shares during the last quarter. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

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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