Climb Global Solutions (NASDAQ:CLMB) Releases Earnings Results, Beats Expectations By $0.27 EPS

Climb Global Solutions (NASDAQ:CLMB) announced its quarterly earnings data on Wednesday. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27, FiscalAI reports. The business had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. Climb Global Solutions had a net margin of 3.27% and a return on equity of 22.56%.

Climb Global Solutions Stock Performance

CLMB traded up $6.04 during trading on Friday, reaching $96.07. The company’s stock had a trading volume of 22,928 shares, compared to its average volume of 71,568. The company’s fifty day moving average price is $114.39 and its 200-day moving average price is $118.94. Climb Global Solutions has a 52-week low of $80.08 and a 52-week high of $145.02. The company has a market capitalization of $442.86 million, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Climb Global Solutions by 4.7% during the 2nd quarter. Tidal Investments LLC now owns 2,415 shares of the company’s stock worth $258,000 after purchasing an additional 108 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Climb Global Solutions by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 12,683 shares of the company’s stock worth $1,356,000 after buying an additional 114 shares in the last quarter. Franklin Resources Inc. grew its position in Climb Global Solutions by 4.3% during the third quarter. Franklin Resources Inc. now owns 2,989 shares of the company’s stock worth $403,000 after buying an additional 122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Climb Global Solutions by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock worth $279,000 after buying an additional 131 shares during the period. Finally, Deutsche Bank AG increased its holdings in Climb Global Solutions by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,975 shares of the company’s stock valued at $306,000 after buying an additional 156 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a report on Friday, February 20th. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen lowered shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings downgraded shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Climb Global Solutions presently has an average rating of “Hold” and an average target price of $136.00.

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.