Climb Global Solutions (NASDAQ:CLMB) Sets New 1-Year High - Should You Buy?

Key Points

• Climb Global Solutions hit a new 52-week high, trading around $43.72 after a prior close of $42.38.
• The company beat quarterly estimates, reporting EPS of $0.43 versus $0.38 expected and revenue of $220.31 million versus $180.98 million forecast.
• Analyst views are mostly positive, with a consensus Buy rating, but the $31 average price target is well below the recent share price; rating changes were mixed.

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) reached a new 52-week high on Wednesday. The stock traded as high as $43.30 and last traded at $43.72, with a volume of 7,086 shares trading hands. The stock had previously closed at $42.38.

Wall Street Analysts Forecast Growth

CLMB has been the topic of a number of research reports. Zacks Research upgraded Climb Global Solutions from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen raised shares of Climb Global Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered shares of Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $31.00.

Climb Global Solutions Stock Up 4.7%

The company's fifty day moving average price is $31.44 and its two-hundred day moving average price is $25.99. The company has a market cap of $828.22 million, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $220.31 million during the quarter, compared to the consensus estimate of $180.98 million. Climb Global Solutions had a return on equity of 19.56% and a net margin of 3.08%. Research analysts forecast that Climb Global Solutions, Inc. will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Climb Global Solutions

A number of institutional investors have recently modified their holdings of CLMB. BlackRock Inc. acquired a new stake in shares of Climb Global Solutions during the second quarter worth $30,777,000. De Lisle Partners LLP acquired a new position in shares of Climb Global Solutions during the second quarter worth about $20,552,000. Wasatch Advisors LP grew its holdings in shares of Climb Global Solutions by 13.8% during the second quarter. Wasatch Advisors LP now owns 691,360 shares of the company's stock worth $16,046,000 after buying an additional 83,680 shares in the last quarter. Tieton Capital Management LLC bought a new stake in Climb Global Solutions in the 2nd quarter valued at approximately $15,948,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in Climb Global Solutions in the 2nd quarter valued at approximately $12,810,000. 49.72% of the stock is owned by institutional investors.

Climb Global Solutions Company Profile

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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