Brokerages Set Climb Global Solutions, Inc. (NASDAQ:CLMB) Price Target at $31.00

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Two 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 price objective among brokers that have issued a report on the stock in the last year is $31.00.

Several analysts have issued reports on the company. Weiss Ratings upgraded Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Wall Street Zen upgraded Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st.

Climb Global Solutions Stock Up 0.2%

Shares of CLMB opened at $27.90 on Tuesday. The business’s 50 day moving average is $27.40 and its two-hundred day moving average is $23.61. The firm has a market cap of $520.61 million, a price-to-earnings ratio of 25.02, a PEG ratio of 1.76 and a beta of 1.09. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.07 million. Climb Global Solutions had a net margin of 2.88% and a return on equity of 18.87%. On average, equities analysts expect that Climb Global Solutions will post 1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Global Solutions

A number of hedge funds have recently added to or reduced their stakes in the business. Tieton Capital Management LLC raised its stake in Climb Global Solutions by 83.9% during the fourth quarter. Tieton Capital Management LLC now owns 111,984 shares of the company’s stock worth $11,511,000 after acquiring an additional 51,088 shares during the period. AltraVue Capital LLC boosted 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 acquiring an additional 87,380 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in shares of Climb Global Solutions by 309.5% during the first quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company’s stock valued at $10,934,000 after purchasing an additional 416,948 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Climb Global Solutions by 307.6% during the first quarter. Janney Montgomery Scott LLC now owns 79,185 shares of the company’s stock valued at $1,569,000 after purchasing an additional 59,758 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Climb Global Solutions by 311.9% during the 1st 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. Institutional investors and hedge funds own 49.72% of the company’s stock.

About Climb Global Solutions

Climb Global Solutions, Inc is a technology-focused value-added distributor and solutions provider that connects software publishers, cloud service providers and other technology vendors with resellers and business customers. The company offers access to products and services across areas such as cybersecurity, cloud computing, data management, networking, infrastructure and information technology management.

Through its distribution operations, Climb helps channel partners source, market and deploy technology solutions.