Climb Global Solutions, Inc. (NASDAQ:CLMB) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Climb Global Solutions, Inc. (NASDAQ:CLMB) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $31.00.

Several brokerages have commented on CLMB. Wall Street Zen raised Climb Global Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday.

Institutional Trading of Climb Global Solutions

A number of hedge funds have recently added to or reduced their stakes in CLMB. ZWJ Investment Counsel Inc. grew its stake in shares of Climb Global Solutions by 3.2% during the third quarter. ZWJ Investment Counsel Inc. now owns 13,565 shares of the company’s stock worth $436,000 after buying an additional 424 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Climb Global Solutions by 0.6% during the third quarter. Pinnacle Associates Ltd. now owns 106,430 shares of the company’s stock worth $3,419,000 after buying an additional 598 shares in the last quarter. Lakewood Asset Management LLC increased its holdings in shares of Climb Global Solutions by 5.5% during the third quarter. Lakewood Asset Management LLC now owns 18,845 shares of the company’s stock worth $605,000 after buying an additional 990 shares in the last quarter. Peterson Wealth Services lifted its stake in shares of Climb Global Solutions by 2.8% in the 3rd quarter. Peterson Wealth Services now owns 42,723 shares of the company’s stock valued at $1,372,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Climb Global Solutions in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Stock Performance

Shares of CLMB opened at $42.38 on Wednesday. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $42.93. The business’s fifty day moving average is $31.44 and its 200-day moving average is $25.99. The firm has a market cap of $790.81 million, a price-to-earnings ratio of 32.85, a PEG ratio of 2.46 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The company had revenue of $220.31 million during the quarter, compared to analysts’ expectations of $180.98 million. Climb Global Solutions had a return on equity of 19.56% and a net margin of 3.08%. As a group, research analysts forecast that Climb Global Solutions will post 1.36 EPS for the current fiscal year.

About Climb Global Solutions

Climb Global Solutions, Inc (NASDAQ:CLMB) is a global value-added distributor of information technology products and services. The company connects technology vendors with resellers, managed service providers, systems integrators and other channel partners, helping them market and deliver specialized technology solutions to business and government customers.

Climb’s portfolio includes cybersecurity, networking, data management, virtualization, cloud computing, software development and other enterprise technology solutions.