Climb Global Solutions (NASDAQ:CLMB) Stock Rating Lowered by Wall Street Zen

Climb Global Solutions (NASDAQ:CLMB) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Climb Global Solutions in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $136.00 price target on shares of Climb Global Solutions in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $136.00.

Climb Global Solutions Stock Down 9.5%

NASDAQ:CLMB opened at $111.08 on Friday. Climb Global Solutions has a 12 month low of $88.90 and a 12 month high of $145.02. The firm has a market cap of $512.86 million, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.16 and a beta of 1.00. The company’s 50 day moving average is $131.18 and its 200-day moving average is $116.03.

Climb Global Solutions (NASDAQ:CLMB) last posted its earnings results on Wednesday, October 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.16. Climb Global Solutions had a net margin of 3.44% and a return on equity of 27.35%. The business had revenue of $161.34 million for the quarter, compared to analyst estimates of $125.29 million. Research analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Global Solutions

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