Climb Global Solutions, Inc. (NASDAQ:CLMB) Stock Rated “Moderate Buy” by Wall Street Brokerages

Climb Global Solutions, Inc. (NASDAQ:CLMB) has been given an average rating of “Moderate Buy” by the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $31.00.

A number of research analysts have recently issued reports on CLMB shares. Wall Street Zen upgraded Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th.

Institutional Trading of Climb Global Solutions

Several institutional investors have recently modified their holdings of CLMB. BlackRock Inc. acquired a new position in shares of Climb Global Solutions during the 2nd quarter worth about $30,777,000. De Lisle Partners LLP purchased a new position in Climb Global Solutions in the 2nd quarter valued at about $20,552,000. Wasatch Advisors LP lifted its stake in Climb Global Solutions by 13.8% in the 2nd quarter. Wasatch Advisors LP now owns 691,360 shares of the company’s stock valued at $16,046,000 after buying an additional 83,680 shares in the last quarter. Tieton Capital Management LLC acquired a new stake in Climb Global Solutions in the 2nd quarter worth about $15,948,000. Finally, Punch & Associates Investment Management Inc. acquired a new stake in Climb Global Solutions in the 2nd quarter worth about $12,810,000. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

NASDAQ CLMB traded down $1.08 during trading hours on Friday, reaching $31.86. The company’s stock had a trading volume of 92,652 shares, compared to its average volume of 170,541. The firm has a market capitalization of $594.51 million, a price-to-earnings ratio of 28.57, a P/E/G ratio of 2.08 and a beta of 1.08. Climb Global Solutions has a 1-year low of $15.24 and a 1-year high of $34.13. The company’s 50-day moving average is $29.75 and its two-hundred day moving average is $25.24.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $174.21 million during the quarter, compared to analysts’ expectations of $174.07 million. Climb Global Solutions had a return on equity of 18.87% and a net margin of 2.88%. Equities analysts forecast that Climb Global Solutions will post 1.32 EPS for the current fiscal year.

About Climb Global Solutions

Climb Global Solutions, Inc is a technology solutions provider and specialty distributor that connects technology vendors with resellers, managed service providers, system integrators and other channel partners. The company focuses on complex and emerging technology markets, helping partners access products, services and support from a range of technology publishers and manufacturers.

Its offerings include cybersecurity, networking, data management, virtualization, cloud computing, software and information technology infrastructure solutions.