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

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMBGet Free Report) have received an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.00.

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings downgraded Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Barrington Research restated an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 5th.

Check Out Our Latest Report on Climb Global Solutions

Hedge Funds Weigh In On Climb Global Solutions

Several large investors have recently modified their holdings of CLMB. Wasatch Advisors LP boosted its stake in Climb Global Solutions by 13.8% during the second quarter. Wasatch Advisors LP now owns 691,360 shares of the company’s stock worth $16,046,000 after buying an additional 83,680 shares during the period. Punch & Associates Investment Management Inc. boosted its position 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 worth $10,934,000 after buying an additional 416,948 shares during the period. Renaissance Technologies LLC boosted 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 buying an additional 406,017 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Climb Global Solutions by 315.0% in the first quarter. Dimensional Fund Advisors LP now owns 423,197 shares of the company’s stock valued at $8,387,000 after buying an additional 321,215 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Climb Global Solutions by 845.5% in the first quarter. Sei Investments Co. now owns 418,908 shares of the company’s stock valued at $8,303,000 after buying an additional 374,601 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB opened at $26.81 on Monday. The firm has a 50-day simple moving average of $23.91 and a 200-day simple moving average of $23.89. The stock has a market capitalization of $498.67 million, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. Climb Global Solutions has a 52 week low of $15.24 and a 52 week high of $36.26.

Climb Global Solutions (NASDAQ:CLMBGet Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm 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%. As a group, equities research analysts expect that Climb Global Solutions will post 1.32 EPS for the current year.

Climb Global Solutions Company Profile

(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.

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Analyst Recommendations for Climb Global Solutions (NASDAQ:CLMB)

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