Climb Global Solutions (NASDAQ:CLMB) Stock Rating Upgraded by Zacks Research

Climb Global Solutions (NASDAQ:CLMB) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other brokerages have also recently issued reports on CLMB. Weiss Ratings cut Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Climb Global Solutions presently has a consensus rating of “Buy” and an average price target of $31.00.

Climb Global Solutions Trading Up 5.5%

Climb Global Solutions stock opened at $42.38 on Monday. The business’s 50 day simple moving average is $31.44 and its 200 day simple moving average is $25.99. Climb Global Solutions has a 12 month low of $15.24 and a 12 month high of $42.93. The company 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 released its earnings results on Wednesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Climb Global Solutions had a return on equity of 19.56% and a net margin of 3.08%. The business had revenue of $220.31 million during the quarter, compared to the consensus estimate of $180.98 million. As a group, equities research analysts forecast that Climb Global Solutions will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Climb Global Solutions in the 2nd quarter worth about $30,777,000. De Lisle Partners LLP bought a new stake in shares of Climb Global Solutions during the second quarter valued at about $20,552,000. Tieton Capital Management LLC purchased a new stake in shares of Climb Global Solutions in the second quarter worth about $15,948,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of Climb Global Solutions in the second quarter worth about $12,810,000. Finally, Renaissance Technologies LLC boosted its position in shares of Climb Global Solutions by 311.9% in the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company’s stock valued at $10,628,000 after acquiring an additional 406,017 shares during the period. 49.72% of the stock is currently owned by institutional investors.

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.