Climb Global Solutions (NASDAQ:CLMB) Stock Rating Lowered by Wall Street Zen

Climb Global Solutions (NASDAQ:CLMB) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Barrington Research decreased their price objective on shares of Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Climb Global Solutions currently has an average rating of “Hold” and an average target price of $120.00.

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock opened at $87.12 on Friday. The firm has a 50-day simple moving average of $112.44 and a two-hundred day simple moving average of $117.61. Climb Global Solutions has a fifty-two week low of $80.08 and a fifty-two week high of $145.02. The company has a market cap of $401.62 million, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 1.41 and a beta of 1.18.

Climb Global Solutions’s stock is going to split before the market opens on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be distributed to shareholders after the market closes on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. The business had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. Equities research analysts forecast that Climb Global Solutions will post 4.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Climb Global Solutions by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock worth $279,000 after purchasing an additional 131 shares during the last quarter. Jane Street Group LLC purchased a new position in Climb Global Solutions during the first quarter worth about $426,000. Aviva PLC purchased a new position in Climb Global Solutions during the second quarter worth about $473,000. CSM Advisors LLC acquired a new stake in shares of Climb Global Solutions during the second quarter valued at about $3,655,000. Finally, Geode Capital Management LLC increased its position in shares of Climb Global Solutions by 0.3% during the second quarter. Geode Capital Management LLC now owns 93,259 shares of the company’s stock valued at $9,972,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Company Profile

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.