Climb Global Solutions (NASDAQ:CLMB) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Climb Global Solutions (NASDAQ:CLMB) announced its earnings results on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01, FiscalAI reports. The business had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.07 million. Climb Global Solutions had a net margin of 3.01% and a return on equity of 20.43%.

Climb Global Solutions Trading Up 0.8%

Shares of CLMB traded up $0.23 during mid-day trading on Wednesday, hitting $28.41. The company’s stock had a trading volume of 123,347 shares, compared to its average volume of 225,241. Climb Global Solutions has a 1-year low of $15.24 and a 1-year high of $36.26. The firm has a market capitalization of $528.43 million, a P/E ratio of 24.92, a P/E/G ratio of 1.72 and a beta of 1.09. The firm has a 50-day simple moving average of $23.51 and a 200 day simple moving average of $23.94.

Insiders Place Their Bets

In other Climb Global Solutions news, Director John R. Mccarthy acquired 4,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $18.83 per share, for a total transaction of $75,320.00. Following the completion of the transaction, the director owned 85,876 shares of the company’s stock, valued at $1,617,045.08. The trade was a 4.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wasatch Advisors LP boosted its holdings in shares of Climb Global Solutions by 29.5% during the second quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock worth $30,056,000 after purchasing an additional 63,975 shares during the last quarter. Invesco Ltd. boosted its position in shares of Climb Global Solutions by 2,446.4% in the third quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock worth $8,800,000 after acquiring an additional 62,700 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Climb Global Solutions by 221.5% in the second quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock valued at $3,519,000 after purchasing an additional 22,676 shares during the period. Geode Capital Management LLC raised its stake in Climb Global Solutions by 20.3% during the fourth quarter. Geode Capital Management LLC now owns 129,194 shares of the company’s stock worth $13,283,000 after purchasing an additional 21,781 shares during the period. Finally, Polar Asset Management Partners Inc. grew its stake in shares of Climb Global Solutions by 36.2% during the 4th quarter. Polar Asset Management Partners Inc. now owns 71,868 shares of the company’s stock valued at $7,387,000 after buying an additional 19,087 shares during the period. 49.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLMB has been the topic of several research reports. Barrington Research reissued an “outperform” rating and set a $30.00 price objective on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Weiss Ratings cut shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.