Climb Global Solutions (NASDAQ:CLMB) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Climb Global Solutions (NASDAQ:CLMBGet Free Report) released its quarterly earnings results on Wednesday. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01, FiscalAI reports. The business had revenue of $174.21 million for the quarter, compared to analysts’ expectations of $174.07 million. Climb Global Solutions had a net margin of 2.88% and a return on equity of 19.29%.

Climb Global Solutions Trading Up 1.6%

Climb Global Solutions stock traded up $0.41 during mid-day trading on Friday, hitting $27.16. The company had a trading volume of 4,062 shares, compared to its average volume of 224,479. Climb Global Solutions has a 12 month low of $15.24 and a 12 month high of $36.26. The company has a market capitalization of $505.08 million, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The stock’s 50 day moving average price is $23.79 and its two-hundred day moving average price is $23.91.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CLMB. Barrington Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Climb Global Solutions in a research note on Tuesday, May 5th. Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Get Our Latest Analysis on Climb Global Solutions

Insider Buying and Selling at Climb Global Solutions

In related news, Director John R. Mccarthy purchased 4,000 shares of the stock in a transaction dated Monday, May 4th. The stock was purchased at an average price of $18.83 per share, with a total value of $75,320.00. Following the transaction, the director directly owned 85,876 shares in the company, valued at $1,617,045.08. This trade represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by insiders.

Institutional Trading of Climb Global Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in shares of Climb Global Solutions during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC raised its holdings in Climb Global Solutions by 317.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after acquiring an additional 422 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Climb Global Solutions in the 4th quarter valued at approximately $110,000. Dynamic Technology Lab Private Ltd purchased a new stake in Climb Global Solutions during the 4th quarter valued at $224,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Climb Global Solutions by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,246 shares of the company’s stock worth $231,000 after purchasing an additional 221 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors.

About Climb Global Solutions

(Get Free Report)

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.

Further Reading

Earnings History for Climb Global Solutions (NASDAQ:CLMB)

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