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

Key Points

• Barrington Research reiterated an "Outperform" rating on Climb Global Solutions with a $30 price target (about a 52% upside), while the Street consensus averages a $31 target and a "Moderate Buy" rating.
• Q1 results showed a mixed beat — revenue of $182.4M topped estimates ($151.3M) but EPS missed at $0.19 versus $0.23 expected — and the stock traded up about 5.2% to $19.72 on the day; market cap is roughly $364M with a P/E of 17.3.
• Insider activity was active: a director bought 4,000 shares at $18.83 while the CEO sold 34,000 shares at $20.13; insiders own about 3.8% of the company and institutional investors hold roughly 49.7%.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report)'s stock had its "outperform" rating restated by analysts at Barrington Research in a research report issued on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the stock. Barrington Research's price objective points to a potential upside of 52.13% from the company's previous close.

Several other equities analysts have also recently commented on CLMB. Wall Street Zen cut shares of Climb Global Solutions from a "hold" rating to a "sell" rating in a research note on Saturday. Zacks Research upgraded shares of Climb Global Solutions from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Weiss Ratings raised shares of Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, April 22nd. Northcoast Research upgraded shares of Climb Global Solutions to a "strong-buy" rating in a research report on Monday, March 23rd. Finally, Northland Securities initiated coverage on Climb Global Solutions in a research report on Monday, March 23rd. They issued an "outperform" rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Climb Global Solutions Stock Up 5.2%

CLMB traded up $0.97 during trading on Tuesday, reaching $19.72. 231,764 shares of the company were exchanged, compared to its average volume of 270,945. The company's 50-day moving average is $21.49 and its two-hundred day moving average is $26.11. The company has a market cap of $364.23 million, a price-to-earnings ratio of 17.30, a P/E/G ratio of 1.19 and a beta of 1.00. Climb Global Solutions has a 12-month low of $15.24 and a 12-month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a net margin of 3.01% and a return on equity of 20.43%. The company had revenue of $182.38 million for the quarter, compared to analysts' expectations of $151.33 million. Equities analysts forecast that Climb Global Solutions will post 1.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John R. Mccarthy purchased 4,000 shares of the company's stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, with a total value of $75,320.00. Following the completion of the purchase, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dale Richard Foster sold 34,000 shares of the company's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the completion of the transaction, the chief executive officer owned 294,760 shares of the company's stock, valued at $5,932,045. The trade was a 10.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC bought a new stake in Climb Global Solutions in the third quarter worth $1,210,000. New York State Common Retirement Fund grew its stake in shares of Climb Global Solutions by 1,069.8% during the third quarter. New York State Common Retirement Fund now owns 21,465 shares of the company's stock valued at $2,894,000 after buying an additional 19,630 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Climb Global Solutions by 37.8% in the third quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company's stock worth $13,818,000 after buying an additional 28,089 shares during the period. Rhumbline Advisers increased its holdings in shares of Climb Global Solutions by 454.5% in the third quarter. Rhumbline Advisers now owns 33,311 shares of the company's stock worth $4,492,000 after buying an additional 27,304 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Climb Global Solutions in the 3rd quarter valued at about $780,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

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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