Climb Global Solutions (NASDAQ:CLMB) Rating Increased to Buy at Wall Street Zen

Key Points

• Climb Global Solutions (NASDAQ:CLMB) was upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, reflecting increased confidence in the company's stock.
• The company reported strong earnings of $1.39 per share, surpassing analysts' expectations of $0.90, contributing to a positive outlook among investors.
• Climb Global Solutions has an average price target of $136.00 among analysts, and its stock currently has a market capitalization of $594.41 million.

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

Other equities analysts also recently issued reports about the company. Barrington Research restated an "outperform" rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research report on Thursday, September 11th. Weiss Ratings restated a "buy (b)" rating on shares of Climb Global Solutions in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $136.00.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $128.66 on Friday. The company has a market capitalization of $594.41 million, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. The business's fifty day moving average is $127.31 and its 200 day moving average is $113.26. Climb Global Solutions has a fifty-two week low of $88.90 and a fifty-two week high of $145.02.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a return on equity of 29.16% and a net margin of 3.82%.The company had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million. On average, sell-side analysts forecast that Climb Global Solutions will post 4.14 EPS for the current year.

Institutional Investors Weigh In On Climb Global Solutions

Hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC lifted its position in shares of Climb Global Solutions by 18.0% in the first quarter. Flagship Harbor Advisors LLC now owns 2,324 shares of the company's stock worth $257,000 after buying an additional 354 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Climb Global Solutions in the first quarter worth about $349,000. Jump Financial LLC purchased a new stake in shares of Climb Global Solutions in the first quarter worth about $320,000. American Century Companies Inc. lifted its position in shares of Climb Global Solutions by 68.8% in the first quarter. American Century Companies Inc. now owns 6,869 shares of the company's stock worth $761,000 after buying an additional 2,799 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Climb Global Solutions by 20,471.4% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the company's stock worth $319,000 after buying an additional 2,866 shares in the last quarter. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Climb Global Solutions Company Profile

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.

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