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

Wall Street Zen upgraded shares of Climb Global Solutions (NASDAQ:CLMB) from a sell rating to a hold rating in a research note released on Saturday morning.

CLMB has been the subject of a number of other research reports. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Northland Securities started coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 target price on the stock. Northcoast Research upgraded Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Barrington Research lowered their target price on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Finally, Weiss Ratings cut Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Climb Global Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $20.66 on Friday. The company has a market cap of $380.56 million, a PE ratio of 17.77, a P/E/G ratio of 1.30 and a beta of 1.20. The company has a fifty day moving average price of $24.63 and a two-hundred day moving average price of $27.82. Climb Global Solutions has a 12 month low of $18.91 and a 12 month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. The company had revenue of $193.85 million for the quarter, compared to analysts’ expectations of $167.75 million. Equities research analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current year.

Insider Buying and Selling at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of Climb Global Solutions stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $20.13, for a total value of $684,250.00. Following the sale, the chief executive officer directly owned 294,760 shares in the company, valued at $5,932,045. This trade represents a 10.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CLMB. State of Alaska Department of Revenue acquired a new stake in shares of Climb Global Solutions in the third quarter valued at approximately $27,000. Global Retirement Partners LLC bought a new position in Climb Global Solutions in the 4th quarter worth approximately $36,000. Bard Associates Inc. bought a new position in Climb Global Solutions in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC increased its position in Climb Global Solutions by 317.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock valued at $59,000 after acquiring an additional 422 shares during the period. Finally, IFP Advisors Inc increased its position in Climb Global Solutions by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after acquiring an additional 99 shares during the period. Institutional investors 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.