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

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.00.

Several analysts recently weighed in on the company. Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings cut Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Barrington Research lowered their target price on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Northland Securities assumed coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd.

Insider Buying and Selling

In other Climb Global Solutions news, CEO Dale Richard Foster sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were 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 in the company, valued at $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLMB. AltraVue Capital LLC bought a new stake in Climb Global Solutions during the 3rd quarter worth $13,817,000. Wasatch Advisors LP raised its position in Climb Global Solutions by 29.5% in the second quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock valued at $30,056,000 after purchasing an additional 63,975 shares during the last quarter. Invesco Ltd. raised its position in Climb Global Solutions by 2,446.4% in the third quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock valued at $8,800,000 after purchasing an additional 62,700 shares during the last quarter. Tieton Capital Management LLC boosted its stake in shares of Climb Global Solutions by 83.9% during 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. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Climb Global Solutions by 41.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock valued at $14,947,000 after purchasing an additional 42,938 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Price Performance

Shares of NASDAQ:CLMB opened at $19.59 on Tuesday. Climb Global Solutions has a 1 year low of $18.91 and a 1 year high of $36.26. The stock has a market capitalization of $360.91 million, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.23 and a beta of 1.18. The company’s 50 day simple moving average is $25.65 and its 200 day simple moving average is $28.25.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, February 25th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. The firm had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. As a group, analysts anticipate that Climb Global Solutions will post 4.14 EPS for the current fiscal 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.