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

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

Other research analysts have also recently issued research reports about the stock. Barrington Research reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday, May 5th. Weiss Ratings cut shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Climb Global Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Climb Global Solutions Price Performance

NASDAQ:CLMB opened at $26.81 on Friday. Climb Global Solutions has a 52 week low of $15.24 and a 52 week high of $36.26. The company has a market capitalization of $498.67 million, a P/E ratio of 24.04, a P/E/G ratio of 1.69 and a beta of 1.07. The stock’s fifty day moving average is $23.91 and its two-hundred day moving average is $23.89.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $174.21 million during the quarter, compared to analysts’ expectations of $174.07 million. Climb Global Solutions had a return on equity of 18.87% and a net margin of 2.88%. Sell-side analysts anticipate that Climb Global Solutions will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Climb Global Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 acquiring an additional 131 shares in the last quarter. Jane Street Group LLC purchased a new stake in Climb Global Solutions during the first quarter worth about $426,000. JPMorgan Chase & Co. increased its stake in Climb Global Solutions by 221.5% during the second quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock worth $3,519,000 after purchasing an additional 22,676 shares during the period. Rhumbline Advisers lifted its position in shares of Climb Global Solutions by 21.1% during the second quarter. Rhumbline Advisers now owns 6,007 shares of the company’s stock worth $642,000 after purchasing an additional 1,047 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Climb Global Solutions by 31.4% during the second quarter. American Century Companies Inc. now owns 9,028 shares of the company’s stock worth $965,000 after purchasing an additional 2,159 shares in the last quarter. Hedge funds and other institutional investors 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.