Climb Global Solutions (NASDAQ:CLMB) Releases Earnings Results, Beats Estimates By $0.34 EPS

Climb Global Solutions (NASDAQ:CLMB) released its earnings results on Wednesday. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.34, FiscalAI reports. Climb Global Solutions had a return on equity of 26.52% and a net margin of 3.44%.The company had revenue of $193.85 million during the quarter, compared to analyst estimates of $167.75 million.

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock traded down $6.78 during trading on Wednesday, hitting $92.99. The company’s stock had a trading volume of 115,032 shares, compared to its average volume of 71,887. The company has a fifty day simple moving average of $115.06 and a two-hundred day simple moving average of $119.33. The company has a market capitalization of $428.68 million, a PE ratio of 20.00, a P/E/G ratio of 1.64 and a beta of 1.15. Climb Global Solutions has a 52 week low of $88.90 and a 52 week high of $145.02.

Analysts Set New Price Targets

Several brokerages have weighed in on CLMB. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings cut shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Barrington Research reaffirmed an “outperform” rating and issued a $136.00 target price on shares of Climb Global Solutions in a research report on Friday, February 20th. Finally, Wall Street Zen cut shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $136.00.

Hedge Funds Weigh In On Climb Global Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CLMB. Beacon Pointe Advisors LLC lifted its holdings in shares of Climb Global Solutions by 5.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company’s stock valued at $326,000 after purchasing an additional 164 shares during the last quarter. XTX Topco Ltd bought a new position in Climb Global Solutions during the 4th quarter valued at approximately $325,000. Man Group plc purchased a new position in Climb Global Solutions during the fourth quarter valued at $861,000. Evolve Private Wealth LLC purchased a new position in Climb Global Solutions during the fourth quarter valued at $529,000. Finally, Boothbay Fund Management LLC bought a new stake in Climb Global Solutions in the fourth quarter worth $292,000. Institutional investors own 49.72% of the company’s stock.

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.