Climb Global Solutions, Inc. (NASDAQ:CLMB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Climb Global Solutions, Inc. (NASDAQ:CLMB) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $31.00.

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

Insider Buying and Selling

In other Climb Global Solutions news, Director John R. Mccarthy bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average cost of $18.83 per share, with a total value of $75,320.00. Following the completion of the purchase, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP lifted its position in shares of Climb Global Solutions by 116.1% during the 1st quarter. Wasatch Advisors LP now owns 607,680 shares of the company’s stock valued at $12,044,000 after acquiring an additional 326,520 shares during the last quarter. Punch & Associates Investment Management Inc. grew its holdings in shares of Climb Global Solutions by 309.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company’s stock worth $10,934,000 after acquiring an additional 416,948 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Climb Global Solutions by 311.9% during the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company’s stock worth $10,628,000 after purchasing an additional 406,017 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Climb Global Solutions by 315.0% during the first quarter. Dimensional Fund Advisors LP now owns 423,197 shares of the company’s stock worth $8,387,000 after purchasing an additional 321,215 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Climb Global Solutions by 845.5% during the first quarter. Sei Investments Co. now owns 418,908 shares of the company’s stock valued at $8,303,000 after purchasing an additional 374,601 shares during the last quarter. Institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

Shares of NASDAQ:CLMB opened at $24.57 on Thursday. Climb Global Solutions has a 12 month low of $15.24 and a 12 month high of $36.26. The stock has a market cap of $457.00 million, a price-to-earnings ratio of 21.55, a PEG ratio of 1.47 and a beta of 1.09. The stock’s 50 day moving average price is $21.54 and its 200 day moving average price is $24.10.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a net margin of 3.01% and a return on equity of 20.43%. The firm had revenue of $182.38 million for the quarter, compared to the consensus estimate of $151.33 million. On average, sell-side analysts expect that Climb Global Solutions will post 1.32 EPS for the current year.

Climb Global Solutions Company Profile

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.