Climb Global Solutions, Inc. (NASDAQ:CLMB) Stock Has Consensus Target Price of $31.00 According to Analysts

Key Points

• Analysts rate Climb Global Solutions “Moderate Buy.” The five covering firms include two buys, one strong buy and two holds, with an average 12-month price target of $31.00.
• CLMB shares opened at $33.26, above the consensus target, and have risen from a 52-week low of $15.24 toward a high of $35.07. The company’s market capitalization is approximately $620.7 million.
• Climb Global Solutions met quarterly expectations with earnings per share of $0.30 and revenue of $174.21 million, while institutional investors and hedge funds own 49.72% of the stock.

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.00.

CLMB has been the subject of several recent research reports. Weiss Ratings raised Climb Global Solutions from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Climb Global Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st.

Hedge Funds Weigh In On Climb Global Solutions

Several hedge funds have recently bought and sold shares of CLMB. Global Retirement Partners LLC bought a new position in Climb Global Solutions during the second quarter valued at about $32,000. Bard Associates Inc. bought a new stake in shares of Climb Global Solutions during the 4th quarter worth about $55,000. Peterson Wealth Services increased its holdings in shares of Climb Global Solutions by 3,267.0% during the 1st quarter. Peterson Wealth Services now owns 3,569 shares of the company's stock valued at $71,000 after acquiring an additional 3,463 shares during the last quarter. State of Wyoming acquired a new position in shares of Climb Global Solutions during the 2nd quarter valued at about $97,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Climb Global Solutions by 31,866.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 959 shares of the company's stock valued at $99,000 after acquiring an additional 956 shares during the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

Climb Global Solutions Trading Up 2.0%

CLMB opened at $33.26 on Friday. The stock has a fifty day moving average price of $29.19 and a 200 day moving average price of $24.79. Climb Global Solutions has a 1 year low of $15.24 and a 1 year high of $35.07. The stock has a market cap of $620.66 million, a price-to-earnings ratio of 29.83, a PEG ratio of 2.06 and a beta of 1.08.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.07 million. Climb Global Solutions had a return on equity of 18.87% and a net margin of 2.88%. As a group, sell-side analysts forecast that Climb Global Solutions will post 1.32 earnings per share for the current fiscal year.

Climb Global Solutions Company Profile

Climb Global Solutions, Inc is a technology solutions provider and specialty distributor that connects technology vendors with resellers, managed service providers, system integrators and other channel partners. The company focuses on complex and emerging technology markets, helping partners access products, services and support from a range of technology publishers and manufacturers.

Its offerings include cybersecurity, networking, data management, virtualization, cloud computing, software and information technology infrastructure solutions.

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