Climb Global Solutions (NASDAQ:CLMB) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Climb Global Solutions from “Sell” to “Hold.” Overall, analysts maintain a “Moderate Buy” consensus with an average price target of $31.00.
• CLMB shares opened at $26.81, up 0.3%, with a market capitalization of approximately $498.7 million. The company’s latest quarterly results met expectations, reporting $0.30 in EPS and $174.21 million in revenue.
• Insider and institutional activity has been supportive: a director purchased 4,000 shares, while institutional investors own 49.72% of the company and several funds increased their positions.

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

Several other equities analysts have also issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $30.00 price target on shares of Climb Global Solutions in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Climb Global Solutions from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Climb Global Solutions Trading Up 0.3%

CLMB stock opened at $26.81 on Friday. The stock has a 50-day moving average price of $23.91 and a 200-day moving average price of $23.93. Climb Global Solutions has a 1-year low of $15.24 and a 1-year high of $36.26. The firm has a market cap of $498.67 million, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Climb Global Solutions had a return on equity of 19.29% and a net margin of 2.88%.The company had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.07 million. On average, analysts forecast that Climb Global Solutions will post 1.32 earnings per share for the current year.

Insider Activity at Climb Global Solutions

In other news, Director John R. Mccarthy bought 4,000 shares of Climb Global Solutions stock in a transaction dated Monday, May 4th. The stock was bought at an average cost of $18.83 per share, for a total transaction of $75,320.00. Following the purchase, the director directly owned 85,876 shares in the company, valued at approximately $1,617,045.08. This represents a 4.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Climb Global Solutions

Hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in shares of Climb Global Solutions by 13.8% in the second quarter. Wasatch Advisors LP now owns 691,360 shares of the company's stock valued at $16,046,000 after buying an additional 83,680 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Climb Global Solutions by 309.5% during the first quarter. Punch & Associates Investment Management Inc. now owns 551,665 shares of the company's stock worth $10,934,000 after acquiring an additional 416,948 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of 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 acquiring an additional 406,017 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Climb Global Solutions by 315.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 423,197 shares of the company's stock worth $8,387,000 after acquiring an additional 321,215 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Climb Global Solutions by 845.5% in the 1st quarter. Sei Investments Co. now owns 418,908 shares of the company's stock worth $8,303,000 after acquiring an additional 374,601 shares during the last quarter. Institutional investors and hedge funds own 49.72% of the company's stock.

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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