Climb Global Solutions (NASDAQ:CLMB) Given New $120.00 Price Target at Barrington Research

Climb Global Solutions (NASDAQ:CLMB) had its target price lowered by Barrington Research from $136.00 to $120.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also commented on the stock. Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen cut shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings downgraded Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $120.00.

Climb Global Solutions Trading Down 0.9%

NASDAQ CLMB opened at $89.73 on Thursday. Climb Global Solutions has a 1-year low of $80.08 and a 1-year high of $145.02. The company has a market capitalization of $413.66 million, a price-to-earnings ratio of 19.30, a PEG ratio of 1.36 and a beta of 1.18. The stock’s 50 day moving average is $112.78 and its two-hundred day moving average is $117.82.

Climb Global Solutions’s stock is scheduled to split on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly minted shares will be payable to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The company had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $167.75 million. On average, analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Aviva PLC bought a new stake in shares of Climb Global Solutions during the second quarter worth $473,000. Conestoga Capital Advisors LLC bought a new stake in Climb Global Solutions during the 3rd quarter worth about $1,210,000. New York State Common Retirement Fund lifted its position in Climb Global Solutions by 1,069.8% during the 3rd quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock valued at $2,894,000 after purchasing an additional 19,630 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Climb Global Solutions by 37.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock valued at $13,818,000 after purchasing an additional 28,089 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Climb Global Solutions in the 2nd quarter valued at about $999,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

About Climb Global Solutions

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.