Climb Global Solutions (NASDAQ:CLMB) Hits New 52-Week High – Still a Buy?

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s share price reached a new 52-week high during trading on Wednesday. The company traded as high as $43.30 and last traded at $43.72, with a volume of 7,086 shares. The stock had previously closed at $42.38.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings lowered Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Zacks Research raised Climb Global Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen raised shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Climb Global Solutions has an average rating of “Buy” and an average price target of $31.00.

Climb Global Solutions Trading Up 4.7%

The company has a 50 day moving average of $31.44 and a 200-day moving average of $25.99. The firm has a market capitalization of $828.22 million, a P/E ratio of 34.11, a P/E/G ratio of 2.46 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Climb Global Solutions had a return on equity of 19.56% and a net margin of 3.08%. The firm had revenue of $220.31 million for the quarter, compared to analysts’ expectations of $180.98 million. As a group, sell-side analysts forecast that Climb Global Solutions, Inc. will post 1.36 EPS for the current fiscal year.

Institutional Trading of Climb Global Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Choreo LLC boosted its holdings in Climb Global Solutions by 1.4% in the 3rd quarter. Choreo LLC now owns 276,533 shares of the company’s stock valued at $8,884,000 after purchasing an additional 3,807 shares during the period. Schwartz Investment Counsel Inc. bought a new position in shares of Climb Global Solutions during the third quarter worth approximately $252,000. Flagship Harbor Advisors LLC raised its position in shares of Climb Global Solutions by 15.6% in the third quarter. Flagship Harbor Advisors LLC now owns 14,783 shares of the company’s stock valued at $475,000 after buying an additional 1,991 shares in the last quarter. Peterson Wealth Services raised its position in shares of Climb Global Solutions by 2.8% in the third quarter. Peterson Wealth Services now owns 42,723 shares of the company’s stock valued at $1,372,000 after buying an additional 1,150 shares in the last quarter. Finally, Lakewood Asset Management LLC boosted its stake in shares of Climb Global Solutions by 5.5% in the third quarter. Lakewood Asset Management LLC now owns 18,845 shares of the company’s stock valued at $605,000 after buying an additional 990 shares during the period. Institutional investors and hedge funds own 49.72% of the company’s stock.

About Climb Global Solutions

Climb Global Solutions, Inc (NASDAQ:CLMB) is a global value-added distributor of information technology products and services. The company connects technology vendors with resellers, managed service providers, systems integrators and other channel partners, helping them market and deliver specialized technology solutions to business and government customers.

Climb’s portfolio includes cybersecurity, networking, data management, virtualization, cloud computing, software development and other enterprise technology solutions.