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

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

Several other research analysts have also weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Climb Global Solutions in a research note on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and set a $136.00 price objective on shares of Climb Global Solutions in a research note on Thursday, September 11th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $136.00.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $128.66 on Friday. The company’s 50 day simple moving average is $127.31 and its 200 day simple moving average is $113.29. Climb Global Solutions has a fifty-two week low of $88.90 and a fifty-two week high of $145.02. The firm has a market capitalization of $594.41 million, a price-to-earnings ratio of 26.69, a PEG ratio of 2.09 and a beta of 1.00.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%. The business had revenue of $159.28 million for the quarter, compared to analyst estimates of $113.25 million. As a group, analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in Climb Global Solutions by 29.5% in the 2nd quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock valued at $30,056,000 after acquiring an additional 63,975 shares in the last quarter. CSM Advisors LLC acquired a new stake in shares of Climb Global Solutions in the second quarter valued at approximately $3,655,000. Thrivent Financial for Lutherans raised its holdings in shares of Climb Global Solutions by 56.4% in the second quarter. Thrivent Financial for Lutherans now owns 74,389 shares of the company’s stock valued at $7,953,000 after purchasing an additional 26,819 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Climb Global Solutions by 221.5% in the second quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock valued at $3,519,000 after purchasing an additional 22,676 shares during the last quarter. Finally, Aptus Capital Advisors LLC acquired a new stake in shares of Climb Global Solutions in the first quarter valued at approximately $2,457,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

About Climb Global Solutions

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.