Climb Global Solutions (NASDAQ:CLMB) Upgraded at Wall Street Zen

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

Several other analysts also recently issued reports on CLMB. Zacks Research downgraded Climb Global Solutions from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Barrington Research reiterated an “outperform” rating and issued a $136.00 target price on shares of Climb Global Solutions in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Climb Global Solutions in a report on Monday. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Climb Global Solutions currently has a consensus rating of “Hold” and a consensus target price of $136.00.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $109.67 on Friday. Climb Global Solutions has a one year low of $88.90 and a one year high of $145.02. The company has a 50-day simple moving average of $119.53 and a 200-day simple moving average of $115.89. The firm has a market capitalization of $505.58 million, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data 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 26.52%. The firm had revenue of $161.34 million for the quarter, compared to analyst estimates of $125.29 million. Equities analysts forecast that Climb Global Solutions will post 4.14 earnings per share for the current year.

Hedge Funds Weigh In On Climb Global Solutions

Large investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its position in shares of Climb Global Solutions by 7.7% during the 3rd quarter. Wasatch Advisors LP now owns 302,880 shares of the company’s stock worth $40,840,000 after buying an additional 21,749 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Climb Global Solutions by 3.3% during the first quarter. Vanguard Group Inc. now owns 240,449 shares of the company’s stock valued at $26,632,000 after acquiring an additional 7,737 shares during the period. De Lisle Partners LLP raised its holdings in Climb Global Solutions by 1.6% during the second quarter. De Lisle Partners LLP now owns 228,088 shares of the company’s stock worth $24,418,000 after purchasing an additional 3,500 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Climb Global Solutions by 37.8% in the third quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock worth $13,818,000 after purchasing an additional 28,089 shares during the period. Finally, AltraVue Capital LLC bought a new position in Climb Global Solutions during the 3rd quarter valued at $13,817,000. 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.