Climb Global Solutions (NASDAQ:CLMB) Posts Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Climb Global Solutions beat quarterly expectations: The company reported EPS of $0.30, $0.01 above consensus, while revenue reached $174.21 million versus the $174.07 million estimate. Net margin was 3.01% and return on equity was 20.43%.
• Shares rose 0.8% to $28.41 following the results, with the stock trading below its 52-week high of $36.26. Analysts maintain a “Moderate Buy” consensus and an average price target of $31.00, despite mixed recent rating changes.
• Insider and institutional interest remains notable: Director John R. McCarthy bought 4,000 shares, while hedge funds and other institutions own approximately 49.72% of the company.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01, FiscalAI reports. Climb Global Solutions had a net margin of 3.01% and a return on equity of 20.43%. The company had revenue of $174.21 million for the quarter, compared to the consensus estimate of $174.07 million.

Climb Global Solutions Trading Up 0.8%

Shares of CLMB traded up $0.23 during mid-day trading on Wednesday, hitting $28.41. The company's stock had a trading volume of 123,344 shares, compared to its average volume of 225,008. The company's 50-day moving average is $23.51 and its 200-day moving average is $23.94. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $36.26. The firm has a market capitalization of $528.43 million, a price-to-earnings ratio of 24.92, a PEG ratio of 1.72 and a beta of 1.09.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CLMB shares. Weiss Ratings lowered Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Barrington Research reissued an "outperform" rating and set a $30.00 price target on shares of Climb Global Solutions in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut Climb Global Solutions from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. One equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Insider Buying and Selling

In related news, Director John R. Mccarthy purchased 4,000 shares of the business's stock in a transaction dated Monday, May 4th. The shares were acquired at an average cost of $18.83 per share, for a total transaction of $75,320.00. Following the acquisition, the director owned 85,876 shares of the company's stock, valued at $1,617,045.08. The trade was a 4.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Climb Global Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLMB. Beacon Pointe Advisors LLC boosted its stake in Climb Global Solutions by 5.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company's stock valued at $326,000 after acquiring an additional 164 shares in the last quarter. XTX Topco Ltd purchased a new position in Climb Global Solutions during the 4th quarter worth $325,000. Man Group plc acquired a new stake in Climb Global Solutions in the fourth quarter worth about $861,000. Evolve Private Wealth LLC acquired a new position in shares of Climb Global Solutions during the fourth quarter valued at about $529,000. Finally, Boothbay Fund Management LLC acquired a new stake in Climb Global Solutions in the 4th quarter worth approximately $292,000. 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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