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

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

Several brokerages have recently commented on CLMB. Weiss Ratings upgraded shares of Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in shares of Climb Global Solutions during the second quarter worth about $32,000. Bard Associates Inc. acquired a new position in shares of Climb Global Solutions in the 4th quarter valued at approximately $55,000. Tower Research Capital LLC TRC increased its stake in Climb Global Solutions by 317.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after purchasing an additional 422 shares in the last quarter. Peterson Wealth Services increased its stake in Climb Global Solutions by 3,267.0% during the 1st quarter. Peterson Wealth Services now owns 3,569 shares of the company’s stock worth $71,000 after purchasing an additional 3,463 shares in the last quarter. Finally, State of Wyoming bought a new stake in Climb Global Solutions during the 2nd quarter worth approximately $97,000. 49.72% of the stock is owned by institutional investors and hedge funds.

Climb Global Solutions Stock Up 5.0%

CLMB stock opened at $29.05 on Friday. Climb Global Solutions has a twelve month low of $15.24 and a twelve month high of $36.26. The company has a market cap of $542.10 million, a P/E ratio of 26.05, a PEG ratio of 1.75 and a beta of 1.07. The business has a fifty day moving average of $25.96 and a 200-day moving average of $23.56.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $174.21 million during the quarter, compared to analyst estimates of $174.07 million. Climb Global Solutions had a return on equity of 18.87% and a net margin of 2.88%. As a group, equities research analysts anticipate that Climb Global Solutions will post 1.32 earnings per share for the current fiscal 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.