Climb Global Solutions (NASDAQ:CLMB) Earns Outperform Rating from Analysts at Northland Securities

Northland Securities began coverage on shares of Climb Global Solutions (NASDAQ:CLMB) in a research note issued to investors on Monday. The brokerage set an “outperform” rating and a $32.00 price target on the stock. Northland Securities’ price target points to a potential downside of 59.26% from the stock’s current price.

A number of other equities analysts have also commented on the company. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Barrington Research reduced their price objective on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Climb Global Solutions has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Stock Up 0.9%

Shares of NASDAQ:CLMB opened at $78.55 on Monday. The firm has a market cap of $362.12 million, a P/E ratio of 16.89, a P/E/G ratio of 1.24 and a beta of 1.18. Climb Global Solutions has a 12-month low of $75.62 and a 12-month high of $145.02. The business has a fifty day simple moving average of $26.74 and a 200 day simple moving average of $28.65.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The firm had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. As a group, equities research analysts expect that Climb Global Solutions will post 4.14 EPS for the current year.

Insider Activity

In other Climb Global Solutions news, CEO Dale Richard Foster sold 34,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the transaction, the chief executive officer directly owned 294,760 shares in the company, valued at approximately $5,932,045. This represents a 10.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CLMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Climb Global Solutions by 5.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock worth $279,000 after purchasing an additional 131 shares during the period. Jane Street Group LLC bought a new position in shares of Climb Global Solutions during the 1st quarter worth about $426,000. Geode Capital Management LLC grew its stake in shares of Climb Global Solutions by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 93,259 shares of the company’s stock valued at $9,972,000 after buying an additional 259 shares during the period. Magnetar Financial LLC increased its position in Climb Global Solutions by 15.6% in the 2nd quarter. Magnetar Financial LLC now owns 4,164 shares of the company’s stock valued at $445,000 after buying an additional 562 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Climb Global Solutions by 221.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock worth $3,519,000 after buying an additional 22,676 shares during the period. Institutional investors and hedge funds 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.