Climb Global Solutions (NASDAQ:CLMB) Releases Quarterly Earnings Results, Beats Estimates By $0.34 EPS

by · The Markets Daily

Climb Global Solutions (NASDAQ:CLMB – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.34, FiscalAI reports. The business had revenue of $193.85 million during the quarter, compared to analyst estimates of $167.75 million. Climb Global Solutions had a return on equity of 26.52% and a net margin of 3.44%.

Climb Global Solutions Stock Down 6.8%

Shares of CLMB stock traded down $6.78 on Wednesday, reaching $92.99. The stock had a trading volume of 115,034 shares, compared to its average volume of 71,896. Climb Global Solutions has a 12 month low of $88.90 and a 12 month high of $145.02. The firm has a market capitalization of $428.68 million, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.64 and a beta of 1.15. The firm’s 50-day moving average is $115.06 and its two-hundred day moving average is $119.33.

Analyst Ratings Changes

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

View Our Latest Report on CLMB

Institutional Trading of Climb Global Solutions

Several institutional investors and hedge funds have recently bought and sold shares of CLMB. Beacon Pointe Advisors LLC lifted its position in shares of Climb Global Solutions by 5.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,170 shares of the company’s stock valued at $326,000 after buying an additional 164 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Climb Global Solutions during the 4th quarter worth approximately $325,000. Man Group plc bought a new stake in Climb Global Solutions in the 4th quarter valued at $861,000. Evolve Private Wealth LLC acquired a new stake in Climb Global Solutions during the 4th quarter valued at $529,000. Finally, Boothbay Fund Management LLC acquired a new stake in Climb Global Solutions during the 4th quarter valued at $292,000. Institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Company Profile

(Get Free Report)

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.

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