Climb Global Solutions, Inc. (NASDAQ:CLMB) Stock Has Average Target Price of $31.00

Key Points

• Analysts rate Climb Global Solutions a “Moderate Buy”, with two holds, two buys and one strong buy; the average 12-month price target is $31.00.
• The stock opened at $42.38, near its 12-month high of $42.93—well above the consensus price target.
• Quarterly results beat expectations: EPS was $0.43 versus $0.38 estimated, while revenue reached $220.31 million against a $180.98 million forecast.

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

A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Wall Street Zen upgraded Climb Global Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st.

Climb Global Solutions Stock Up 5.5%

NASDAQ CLMB opened at $42.38 on Wednesday. The firm has a 50-day moving average price of $31.44 and a two-hundred day moving average price of $25.99. Climb Global Solutions has a 12-month low of $15.24 and a 12-month high of $42.93. The company has a market capitalization of $790.81 million, a P/E ratio of 32.85, a P/E/G ratio of 2.46 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Climb Global Solutions had a net margin of 3.08% and a return on equity of 19.56%. The company had revenue of $220.31 million for the quarter, compared to analysts' expectations of $180.98 million. Equities analysts expect that Climb Global Solutions will post 1.36 EPS for the current year.

Institutional Trading of Climb Global Solutions

Several large investors have recently modified their holdings of CLMB. Bank of New York Mellon Corp acquired a new stake in Climb Global Solutions during the second quarter worth about $2,936,000. BlackRock Inc. acquired a new position in shares of Climb Global Solutions in the 2nd quarter valued at approximately $30,777,000. Punch & Associates Investment Management Inc. raised its position in shares of 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 buying an additional 416,948 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Climb Global Solutions in the 2nd quarter valued at approximately $1,946,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Climb Global Solutions by 307.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 79,185 shares of the company's stock worth $1,569,000 after acquiring an additional 59,758 shares during the period. 49.72% of the stock is owned by institutional investors and hedge funds.

About Climb Global Solutions

Climb Global Solutions, Inc NASDAQ: CLMB is a global value-added distributor of information technology products and services. The company connects technology vendors with resellers, managed service providers, systems integrators and other channel partners, helping them market and deliver specialized technology solutions to business and government customers.

Climb's portfolio includes cybersecurity, networking, data management, virtualization, cloud computing, software development and other enterprise technology solutions.

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