Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives Consensus Rating of “Moderate Buy” from Analysts

Climb Global Solutions, Inc. (NASDAQ:CLMB) has earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.00.

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

Insider Activity

In other Climb Global Solutions news, CEO Dale Richard Foster sold 34,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $20.13, for a total value of $684,250.00. Following the transaction, the chief executive officer directly owned 294,760 shares in the company, valued at approximately $5,932,045. This represents a 10.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Mccarthy bought 4,000 shares of Climb Global Solutions stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the acquisition, the director owned 85,876 shares in the company, valued at $1,617,045.08. This represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Climb Global Solutions by 261.7% in the first quarter. Bank of America Corp DE now owns 17,627 shares of the company’s stock valued at $349,000 after buying an additional 12,753 shares during the period. Quantinno Capital Management LP raised its holdings in Climb Global Solutions by 77.8% in the first quarter. Quantinno Capital Management LP now owns 12,668 shares of the company’s stock valued at $251,000 after buying an additional 5,543 shares during the period. Polar Asset Management Partners Inc. raised its holdings in Climb Global Solutions by 167.3% in the first quarter. Polar Asset Management Partners Inc. now owns 192,072 shares of the company’s stock valued at $3,807,000 after buying an additional 120,204 shares during the period. Punch & Associates Investment Management Inc. raised its holdings in Climb Global Solutions by 309.5% in the first 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 during the period. Finally, Renaissance Technologies LLC raised its holdings in Climb Global Solutions by 311.9% in the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company’s stock valued at $10,628,000 after buying an additional 406,017 shares during the period. Hedge funds and other institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

Shares of Climb Global Solutions stock opened at $23.82 on Friday. The firm’s fifty day simple moving average is $20.98 and its 200-day simple moving average is $24.54. The stock has a market capitalization of $443.05 million, a price-to-earnings ratio of 20.89, a PEG ratio of 1.50 and a beta of 1.09. Climb Global Solutions has a 12 month low of $15.24 and a 12 month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last announced its 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 during the quarter, compared to analyst estimates of $151.33 million. Climb Global Solutions had a net margin of 3.01% and a return on equity of 20.43%. Analysts anticipate that Climb Global Solutions will post 1.32 earnings per share for the current year.

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.