Climb Global Solutions (NASDAQ:CLMB) Hits New 12-Month High - Here's Why

Key Points

• Climb Global Solutions reached a new 12-month high, trading at $145.00, with a significant volume of 1,418 shares changing hands.
• Analysts have rated Climb Global Solutions as a "Buy" with an average target price of $136.00, reflecting positive market sentiment and growth expectations.
• The company reported strong quarterly earnings, with $1.39 earnings per share, exceeding estimates by $0.49, and a revenue of $159.28 million, significantly above expected figures.

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $145.00 and last traded at $144.46, with a volume of 1418 shares trading hands. The stock had previously closed at $140.00.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CLMB. Barrington Research reiterated an "outperform" rating and set a $136.00 target price on shares of Climb Global Solutions in a research report on Thursday, September 11th. Weiss Ratings restated a "buy (b)" rating on shares of Climb Global Solutions in a report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Climb Global Solutions currently has an average rating of "Buy" and an average target price of $136.00.

Climb Global Solutions Price Performance

The company's fifty day simple moving average is $124.44 and its 200-day simple moving average is $112.55. The firm has a market capitalization of $655.03 million, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.00.

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

Climb Global Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Climb Global Solutions's dividend payout ratio (DPR) is presently 14.11%.

Hedge Funds Weigh In On Climb Global Solutions

A number of institutional investors have recently bought and sold shares of CLMB. Bank of America Corp DE boosted its holdings in shares of Climb Global Solutions by 40.1% in the 4th quarter. Bank of America Corp DE now owns 4,149 shares of the company's stock valued at $526,000 after acquiring an additional 1,187 shares during the last quarter. GAMMA Investing LLC grew its position in Climb Global Solutions by 20,471.4% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the company's stock worth $319,000 after purchasing an additional 2,866 shares during the period. Rhumbline Advisers grew its position in Climb Global Solutions by 6.0% during the 1st quarter. Rhumbline Advisers now owns 4,960 shares of the company's stock worth $549,000 after purchasing an additional 282 shares during the period. Flagship Harbor Advisors LLC raised its stake in shares of Climb Global Solutions by 18.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,324 shares of the company's stock valued at $257,000 after buying an additional 354 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Climb Global Solutions in the first quarter worth about $349,000. 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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