Barrington raised the firm’s price target on Climb Global (CLMB) to $136 from $90 and keeps an Outperform rating on the shares. The company’s adjusted gross billings exceeded Barrington’s forecast by 22%, though Q3 net sales were 2% less than the firm’s forecast, the analyst tells investors in a research note. The year-over-year growth in net sales and AGB was driven by organic growth from new and existing vendors and incremental revenue from the acquisitions of Douglas Stewart Software & Services and DataSolutions, which were acquired in July 2024 and October 2023, respectively, the firm says.
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Read More on CLMB:
- Climb Global Solutions Reports Record Q3 2024 Growth
- Climb Global reports Q3 adjusted EPS $1.55 vs. 56c last year
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- CLMB Earnings this Week: How Will it Perform?
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