Zacks Research Upgrades Climb Global Solutions (NASDAQ:CLMB) to Strong-Buy

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

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

Climb Global Solutions Price Performance

Shares of NASDAQ:CLMB opened at $42.38 on Monday. The company’s fifty day moving average price is $31.44 and its 200 day moving average price is $25.99. Climb Global Solutions has a 12 month low of $15.24 and a 12 month high of $42.93. The firm has a market capitalization of $790.81 million, a P/E ratio of 32.85, a P/E/G ratio of 2.46 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. Climb Global Solutions had a net margin of 3.08% and a return on equity of 19.56%. The company had revenue of $220.31 million during the quarter, compared to the consensus estimate of $180.98 million. On average, sell-side analysts anticipate that Climb Global Solutions will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Climb Global Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CLMB. Global Retirement Partners LLC purchased a new position in shares of Climb Global Solutions during the second quarter worth about $32,000. USA Financial Formulas purchased a new stake in Climb Global Solutions during the 3rd quarter valued at approximately $49,000. Peterson Wealth Services raised its stake in Climb Global Solutions by 3,267.0% during the 1st quarter. Peterson Wealth Services now owns 3,569 shares of the company’s stock valued at $71,000 after acquiring an additional 3,463 shares during the last quarter. Sterling Capital Management LLC lifted its position in Climb Global Solutions by 3,827.1% during the 3rd quarter. Sterling Capital Management LLC now owns 2,317 shares of the company’s stock worth $74,000 after acquiring an additional 2,258 shares during the period. Finally, State of Wyoming acquired a new stake in Climb Global Solutions during the 2nd quarter worth approximately $97,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

Climb Global Solutions Company Profile

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.