Climb Global Solutions (NASDAQ:CLMB) Raised to “Strong-Buy” at Northcoast Research

Climb Global Solutions (NASDAQ:CLMB) was upgraded by analysts at Northcoast Research to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

CLMB has been the topic of several other reports. Barrington Research decreased their price objective on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Wall Street Zen cut Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Northland Securities assumed coverage on Climb Global Solutions in a research note on Monday. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Weiss Ratings cut Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a 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’s stock. Based on data from MarketBeat.com, Climb Global Solutions has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Climb Global Solutions Trading Up 1.9%

Shares of NASDAQ:CLMB opened at $20.01 on Monday. The company has a market capitalization of $92.25 million, a price-to-earnings ratio of 4.30, a PEG ratio of 1.24 and a beta of 1.18. Climb Global Solutions has a 12-month low of $18.91 and a 12-month high of $36.26. The business has a 50-day moving average price of $26.55 and a 200 day moving average price of $28.56.

Climb Global Solutions (NASDAQ:CLMB) last posted its earnings results on Wednesday, February 25th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. 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. As a group, equities research analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Dale Richard Foster sold 34,000 shares of the stock in a transaction on Monday, March 16th. The stock was 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 approximately $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Climb Global Solutions by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock valued at $279,000 after buying an additional 131 shares during the period. Jane Street Group LLC acquired a new stake in Climb Global Solutions in the first quarter valued at approximately $426,000. Geode Capital Management LLC lifted its stake in Climb Global Solutions by 0.3% in the second quarter. Geode Capital Management LLC now owns 93,259 shares of the company’s stock worth $9,972,000 after acquiring an additional 259 shares during the last quarter. Magnetar Financial LLC grew its holdings in Climb Global Solutions by 15.6% during the 2nd quarter. Magnetar Financial LLC now owns 4,164 shares of the company’s stock worth $445,000 after acquiring an additional 562 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Climb Global Solutions by 221.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock valued at $3,519,000 after purchasing an additional 22,676 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.

About Climb Global Solutions

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.