Climb Global Solutions (NASDAQ:CLMB) Raised to “Buy” at Wall Street Zen

by · The Markets Daily

Climb Global Solutions (NASDAQ:CLMB – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Climb Global Solutions in a research note on Monday, December 1st. Zacks Research cut Climb Global Solutions from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $136.00.

Check Out Our Latest Analysis on CLMB

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB opened at $109.67 on Friday. Climb Global Solutions has a 12-month low of $88.90 and a 12-month high of $145.02. The company has a market capitalization of $505.58 million, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.13. The firm’s 50-day moving average is $119.53 and its two-hundred day moving average is $116.00.

Climb Global Solutions (NASDAQ:CLMB – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.16. The company had revenue of $161.34 million during the quarter, compared to analysts’ expectations of $125.29 million. Climb Global Solutions had a return on equity of 26.52% and a net margin of 3.44%. On average, analysts forecast that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLMB. Vanguard Group Inc. raised its holdings in shares of Climb Global Solutions by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 240,449 shares of the company’s stock valued at $26,632,000 after purchasing an additional 7,737 shares in the last quarter. Cynosure Group LLC acquired a new position in Climb Global Solutions in the 1st quarter valued at approximately $321,000. Sierra Summit Advisors LLC bought a new stake in shares of Climb Global Solutions in the 1st quarter worth approximately $554,000. Virtu Financial LLC acquired a new stake in shares of Climb Global Solutions during the 1st quarter worth approximately $377,000. Finally, Nuveen LLC bought a new stake in shares of Climb Global Solutions during the first quarter valued at approximately $833,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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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