Barrington Research Has Lowered Expectations for Climb Global Solutions (NASDAQ:CLMB) Stock Price

Climb Global Solutions (NASDAQ:CLMB) had its price objective reduced by Barrington Research from $136.00 to $120.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target would suggest a potential upside of 33.73% from the company’s previous close.

CLMB has been the topic of several other reports. Wall Street Zen downgraded shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $120.00.

Climb Global Solutions Price Performance

Shares of CLMB traded down $0.85 during mid-day trading on Thursday, reaching $89.73. The company’s stock had a trading volume of 85,134 shares, compared to its average volume of 75,575. The company’s 50 day moving average is $113.09 and its 200 day moving average is $118.02. The stock has a market cap of $413.66 million, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.34 and a beta of 1.18. Climb Global Solutions has a 12-month low of $80.08 and a 12-month high of $145.02.

Climb Global Solutions shares are set to split on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be distributed to shareholders after the market closes on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results 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 net margin of 3.27% and a return on equity of 21.86%. The business had revenue of $193.85 million during the quarter, compared to the consensus estimate of $167.75 million. As a group, sell-side analysts anticipate that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Trading of Climb Global Solutions

A number of large investors have recently modified their holdings of CLMB. Flagship Harbor Advisors LLC grew its stake in Climb Global Solutions by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,739 shares of the company’s stock worth $282,000 after acquiring an additional 95 shares during the period. IFP Advisors Inc grew its stake in shares of Climb Global Solutions by 18.2% in the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after buying an additional 99 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Climb Global Solutions by 4.7% during the second quarter. Tidal Investments LLC now owns 2,415 shares of the company’s stock valued at $258,000 after purchasing an additional 108 shares during the period. Ameriprise Financial Inc. increased its stake in Climb Global Solutions by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,683 shares of the company’s stock worth $1,356,000 after buying an additional 114 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Climb Global Solutions by 4.3% in the third quarter. Franklin Resources Inc. now owns 2,989 shares of the company’s stock worth $403,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors 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.