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Climb Global (CLMB) Soars 3.5%: Is Further Upside Left in the Stock?
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Climb Global Solutions (CLMB - Free Report) shares rallied 3.5% in the last trading session to close at $106.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.2% loss over the past four weeks.
The stock has recorded this price rise as the company benefits from organic growth in both the United States and Europe. This portrays its ability to strengthen partner relationships while signing advanced technologies in its line card.
This computer software reseller is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of +8.4%. Revenues are expected to be $113.25 million, up 23% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Climb Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLMB going forward to see if this recent jump can turn into more strength down the road.
Climb Global is a member of the Zacks Technology Services industry. One other stock in the same industry, MediaAlpha, Inc. (MAX - Free Report) , finished the last trading session 1.3% higher at $10.95. MAX has returned 6% over the past month.
For MediaAlpha, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +142.9% from what the company reported a year ago. MediaAlpha currently has a Zacks Rank of #3 (Hold).
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Climb Global (CLMB) Soars 3.5%: Is Further Upside Left in the Stock?
Climb Global Solutions (CLMB - Free Report) shares rallied 3.5% in the last trading session to close at $106.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.2% loss over the past four weeks.
The stock has recorded this price rise as the company benefits from organic growth in both the United States and Europe. This portrays its ability to strengthen partner relationships while signing advanced technologies in its line card.
This computer software reseller is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of +8.4%. Revenues are expected to be $113.25 million, up 23% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Climb Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLMB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Climb Global is a member of the Zacks Technology Services industry. One other stock in the same industry, MediaAlpha, Inc. (MAX - Free Report) , finished the last trading session 1.3% higher at $10.95. MAX has returned 6% over the past month.
For MediaAlpha, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.17. This represents a change of +142.9% from what the company reported a year ago. MediaAlpha currently has a Zacks Rank of #3 (Hold).