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

Key Points

• Zacks Research upgraded Climb Global Solutions from “hold” to “strong-buy.” Analysts overall rate the stock “Buy,” with a consensus price target of $31.
• Climb reported quarterly earnings of $0.43 per share, beating the $0.38 consensus estimate, and revenue of $220.31 million versus expectations of $180.98 million.
• Shares rose 5.5% and opened at $42.38, near the stock’s 12-month high of $42.93.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research analysts have also commented on CLMB. Wall Street Zen raised shares of 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. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $31.00.

Climb Global Solutions Trading Up 5.5%

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

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.43 EPS for the quarter, beating 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%. Research analysts predict that Climb Global Solutions will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Global Solutions

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Climb Global Solutions in the second quarter valued at $30,777,000. De Lisle Partners LLP purchased a new position in shares of Climb Global Solutions in the 2nd quarter valued at about $20,552,000. Tieton Capital Management LLC acquired a new stake in shares of Climb Global Solutions during the 2nd quarter worth about $15,948,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Climb Global Solutions during the 2nd quarter worth about $12,810,000. Finally, Renaissance Technologies LLC lifted its stake in Climb Global Solutions by 311.9% during the first quarter. Renaissance Technologies LLC now owns 536,213 shares of the company's stock worth $10,628,000 after purchasing an additional 406,017 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company's stock.

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.

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