Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives $31.00 Consensus Price Target from Analysts

Climb Global Solutions, Inc. (NASDAQ:CLMB) has received an average rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $31.00.

A number of equities research analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Wall Street Zen lowered Climb Global Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Northland Securities assumed coverage on Climb Global Solutions in a research report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 target price on the stock. Weiss Ratings lowered Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research report on Monday, March 23rd.

Climb Global Solutions Price Performance

NASDAQ CLMB opened at $22.64 on Friday. The firm has a market cap of $421.10 million, a P/E ratio of 19.86, a P/E/G ratio of 1.43 and a beta of 1.09. The stock’s 50-day moving average is $21.33 and its 200-day moving average is $24.45. Climb Global Solutions has a one year low of $15.24 and a one year high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $182.38 million for the quarter, compared to analyst estimates of $151.33 million. Climb Global Solutions had a return on equity of 20.43% and a net margin of 3.01%. Equities analysts anticipate that Climb Global Solutions will post 1.32 EPS for the current year.

Insider Buying and Selling

In related news, CEO Dale Richard Foster sold 34,000 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the sale, the chief executive officer owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Mccarthy bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average cost of $18.83 per share, for a total transaction of $75,320.00. Following the transaction, the director owned 85,876 shares in the company, valued at $1,617,045.08. The trade was a 4.89% increase in their position. The SEC filing for this purchase provides additional information. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund grew its stake in Climb Global Solutions by 1,069.8% in the third quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock valued at $2,894,000 after purchasing an additional 19,630 shares in the last quarter. Rhumbline Advisers grew its stake in Climb Global Solutions by 454.5% in the third quarter. Rhumbline Advisers now owns 33,311 shares of the company’s stock valued at $4,492,000 after purchasing an additional 27,304 shares in the last quarter. Tieton Capital Management LLC grew its stake in Climb Global Solutions by 83.9% in the fourth quarter. Tieton Capital Management LLC now owns 111,984 shares of the company’s stock valued at $11,511,000 after purchasing an additional 51,088 shares in the last quarter. AltraVue Capital LLC grew its stake in Climb Global Solutions by 85.3% in the fourth quarter. AltraVue Capital LLC now owns 189,851 shares of the company’s stock valued at $19,515,000 after purchasing an additional 87,380 shares in the last quarter. Finally, Caprock Group LLC bought a new position in Climb Global Solutions in the third quarter valued at approximately $780,000. 49.72% of the stock is currently owned by 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.