Zacks Research Upgrades Climb Global Solutions (NASDAQ:CLMB) to Hold

Climb Global Solutions (NASDAQ:CLMB) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $136.00 target price on shares of Climb Global Solutions in a research note on Friday, November 7th. Wall Street Zen lowered shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Climb Global Solutions in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.00.

Climb Global Solutions Stock Performance

Shares of CLMB stock opened at $111.55 on Tuesday. Climb Global Solutions has a 1 year low of $88.90 and a 1 year high of $145.02. The stock has a fifty day moving average of $107.14 and a two-hundred day moving average of $116.15. The firm has a market capitalization of $514.25 million, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.16. Climb Global Solutions had a return on equity of 26.52% and a net margin of 3.44%.The company had revenue of $161.34 million for the quarter, compared to analyst estimates of $125.29 million. Equities research analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Institutional Trading of Climb Global Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Climb Global Solutions by 18.2% during the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after buying an additional 99 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Climb Global Solutions by 4.7% during the 2nd quarter. Tidal Investments LLC now owns 2,415 shares of the company’s stock valued at $258,000 after acquiring an additional 108 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Climb Global Solutions by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,683 shares of the company’s stock valued at $1,356,000 after acquiring an additional 114 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Climb Global Solutions by 4.3% during the 3rd quarter. Franklin Resources Inc. now owns 2,989 shares of the company’s stock worth $403,000 after acquiring an additional 122 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Climb Global Solutions by 5.5% in 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 during the last quarter. 49.72% of the stock is owned by institutional investors and hedge funds.

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.