Climb Global Solutions (NASDAQ:CLMB) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Climb Global Solutions (NASDAQ:CLMB) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

A number of other research firms also recently commented on CLMB. Wall Street Zen raised shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings downgraded Climb Global Solutions from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $31.00.

Climb Global Solutions Price Performance

Shares of NASDAQ:CLMB opened at $42.38 on Monday. Climb Global Solutions has a 1 year low of $15.24 and a 1 year high of $42.93. The stock’s fifty day moving average price is $31.44 and its 200-day moving average price is $25.99. The company has a market cap of $790.81 million, a P/E ratio of 32.85, a PEG ratio of 2.46 and a beta of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last posted its earnings results on Wednesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. The business had revenue of $220.31 million for the quarter, compared to analysts’ expectations of $180.98 million. Climb Global Solutions had a net margin of 3.08% and a return on equity of 19.56%. On average, sell-side analysts anticipate that Climb Global Solutions will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CLMB. Choreo LLC lifted its stake in shares of Climb Global Solutions by 1.4% during the 3rd quarter. Choreo LLC now owns 276,533 shares of the company’s stock valued at $8,884,000 after buying an additional 3,807 shares in the last quarter. Schwartz Investment Counsel Inc. bought a new position in Climb Global Solutions in the 3rd quarter worth $252,000. Flagship Harbor Advisors LLC boosted its holdings in Climb Global Solutions by 15.6% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 14,783 shares of the company’s stock worth $475,000 after buying an additional 1,991 shares during the period. Peterson Wealth Services increased its stake in Climb Global Solutions by 2.8% in the 3rd quarter. Peterson Wealth Services now owns 42,723 shares of the company’s stock worth $1,372,000 after buying an additional 1,150 shares in the last quarter. Finally, Lakewood Asset Management LLC increased its stake in Climb Global Solutions by 5.5% in the 3rd quarter. Lakewood Asset Management LLC now owns 18,845 shares of the company’s stock worth $605,000 after buying an additional 990 shares in the last quarter. Institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Company Profile

Climb Global Solutions, Inc (NASDAQ:CLMB) is a global value-added distributor of information technology products and services. The company connects technology vendors with resellers, managed service providers, systems integrators and other channel partners, helping them market and deliver specialized technology solutions to business and government customers.

Climb’s portfolio includes cybersecurity, networking, data management, virtualization, cloud computing, software development and other enterprise technology solutions.