Barrington Research Issues Positive Forecast for Climb Global Solutions (NASDAQ:CLMB) Stock Price

Climb Global Solutions (NASDAQ:CLMB) had its target price boosted by research analysts at Barrington Research from $90.00 to $136.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target indicates a potential upside of 11.57% from the stock’s previous close.

Climb Global Solutions Stock Performance

CLMB stock traded up $1.77 during midday trading on Tuesday, hitting $121.90. 9,710 shares of the stock were exchanged, compared to its average volume of 19,449. The stock’s 50-day moving average price is $100.90 and its 200-day moving average price is $78.15. The stock has a market cap of $561.59 million, a price-to-earnings ratio of 33.06, a PEG ratio of 3.30 and a beta of 1.06. Climb Global Solutions has a fifty-two week low of $42.83 and a fifty-two week high of $124.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLMB. Navellier & Associates Inc. acquired a new stake in shares of Climb Global Solutions during the third quarter worth $322,000. Foundry Partners LLC increased its holdings in Climb Global Solutions by 0.9% in the 3rd quarter. Foundry Partners LLC now owns 35,675 shares of the company’s stock valued at $3,551,000 after purchasing an additional 330 shares in the last quarter. Royce & Associates LP raised its position in Climb Global Solutions by 314.5% in the third quarter. Royce & Associates LP now owns 35,919 shares of the company’s stock valued at $3,575,000 after purchasing an additional 27,254 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Climb Global Solutions by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 23,030 shares of the company’s stock worth $2,292,000 after purchasing an additional 3,463 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Climb Global Solutions by 66.8% in the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock worth $1,814,000 after buying an additional 7,298 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 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.