Climb Global Solutions (NASDAQ:CLMB) Upgraded at Wall Street Zen

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

Several other equities analysts have also recently weighed in on the company. Barrington Research lowered their target price on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings cut Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Northland Securities initiated coverage on Climb Global Solutions in a research note on Monday, March 23rd. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Climb Global Solutions currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Climb Global Solutions Price Performance

NASDAQ:CLMB opened at $20.78 on Friday. Climb Global Solutions has a fifty-two week low of $18.91 and a fifty-two week high of $36.26. The stock’s 50-day moving average is $24.46 and its two-hundred day moving average is $27.69. The stock has a market cap of $382.83 million, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20.

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

Insider Activity at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 294,760 shares of the company’s stock, valued at approximately $5,932,045. The trade was a 10.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Climb Global Solutions

Several large investors have recently made changes to their positions in the company. Wasatch Advisors LP grew its stake in shares of Climb Global Solutions by 7.7% in the 3rd quarter. Wasatch Advisors LP now owns 302,880 shares of the company’s stock valued at $40,840,000 after buying an additional 21,749 shares in the last quarter. De Lisle Partners LLP grew its stake in shares of Climb Global Solutions by 2.7% in the 4th quarter. De Lisle Partners LLP now owns 246,988 shares of the company’s stock valued at $25,430,000 after buying an additional 6,400 shares in the last quarter. AltraVue Capital LLC grew its stake in shares of Climb Global Solutions by 85.3% in the 4th quarter. AltraVue Capital LLC now owns 189,851 shares of the company’s stock valued at $19,515,000 after buying an additional 87,380 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Climb Global Solutions by 41.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock worth $14,947,000 after purchasing an additional 42,938 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its position in Climb Global Solutions by 5.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 134,717 shares of the company’s stock worth $13,848,000 after purchasing an additional 6,377 shares during the period. 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.