Wall Street Zen Downgrades Climb Global Solutions (NASDAQ:CLMB) to Hold

Climb Global Solutions (NASDAQ:CLMB) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

CLMB has been the subject of several other research reports. Barrington Research reiterated an “outperform” rating and set a $136.00 target price on shares of Climb Global Solutions in a research report on Friday, November 7th. Zacks Research lowered shares of Climb Global Solutions from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Climb Global Solutions in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $136.00.

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB opened at $104.97 on Friday. The stock has a market cap of $484.23 million, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.97. Climb Global Solutions has a 1 year low of $88.90 and a 1 year high of $145.02. The firm has a fifty day moving average price of $125.81 and a 200-day moving average price of $116.26.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, October 29th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.16. Climb Global Solutions had a net margin of 3.44% and a return on equity of 27.35%. The company had revenue of $161.34 million during the quarter, compared to the consensus estimate of $125.29 million. On average, research analysts expect that Climb Global Solutions will post 4.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Climb Global Solutions in the third quarter worth $27,000. Hilltop National Bank bought a new stake in shares of Climb Global Solutions in the 2nd quarter worth about $35,000. IFP Advisors Inc raised its position in shares of Climb Global Solutions by 183.3% during the 2nd quarter. IFP Advisors Inc now owns 544 shares of the company’s stock valued at $58,000 after buying an additional 352 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Climb Global Solutions by 317.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock valued at $59,000 after buying an additional 422 shares in the last quarter. Finally, Banque Transatlantique SA bought a new position in shares of Climb Global Solutions in the 1st quarter valued at about $60,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

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.