Climb Global Solutions (NASDAQ:CLMB) Given "Buy (B)" Rating at Weiss Ratings

Key Points

• Climb Global Solutions has received a "Buy (B)" rating from Weiss Ratings, indicating a positive outlook from analysts.
• The company has a current consensus price target of $136.00, with two research analysts also rating the stock as a Buy.
• Climb Global Solutions reported an earnings per share (EPS) of $1.39, significantly exceeding estimates of $0.90, along with a revenue of $159.28 million for the last quarter.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report)'s stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Barrington Research restated an "outperform" rating and set a $136.00 target price on shares of Climb Global Solutions in a report on Thursday, September 11th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $136.00.

Climb Global Solutions Stock Up 0.3%

NASDAQ:CLMB traded up $0.44 during mid-day trading on Wednesday, reaching $136.83. 33,045 shares of the company were exchanged, compared to its average volume of 48,818. Climb Global Solutions has a 12 month low of $88.90 and a 12 month high of $145.02. The company has a fifty day moving average of $126.70 and a 200 day moving average of $113.07. The stock has a market cap of $632.15 million, a PE ratio of 28.39, a PEG ratio of 2.21 and a beta of 1.00.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $159.28 million for the quarter, compared to analyst estimates of $113.25 million. On average, equities research analysts anticipate that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Trading of Climb Global Solutions

Several hedge funds have recently bought and sold shares of CLMB. Wasatch Advisors LP boosted its holdings in shares of Climb Global Solutions by 29.5% in the 2nd quarter. Wasatch Advisors LP now owns 281,131 shares of the company's stock worth $30,056,000 after buying an additional 63,975 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Climb Global Solutions by 3.3% during the first quarter. Vanguard Group Inc. now owns 240,449 shares of the company's stock valued at $26,632,000 after buying an additional 7,737 shares during the period. De Lisle Partners LLP raised its stake in Climb Global Solutions by 1.6% in the second quarter. De Lisle Partners LLP now owns 228,088 shares of the company's stock valued at $24,418,000 after purchasing an additional 3,500 shares in the last quarter. Geode Capital Management LLC raised its stake in Climb Global Solutions by 0.3% in the second quarter. Geode Capital Management LLC now owns 93,259 shares of the company's stock valued at $9,972,000 after purchasing an additional 259 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Climb Global Solutions by 56.4% during the second quarter. Thrivent Financial for Lutherans now owns 74,389 shares of the company's stock valued at $7,953,000 after acquiring an additional 26,819 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.