Wall Street Zen Downgrades Climb Global Solutions (NASDAQ:CLMB) to Hold

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

Several other analysts have also recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Climb Global Solutions in a research report on Monday, November 17th. Barrington Research reaffirmed an “outperform” rating and set a $136.00 target price on shares of Climb Global Solutions in a report on Friday, November 7th. Finally, Zacks Research cut shares of Climb Global Solutions from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Climb Global Solutions presently has an average rating of “Hold” and a consensus target price of $136.00.

Climb Global Solutions Trading Down 2.5%

Shares of Climb Global Solutions stock opened at $102.32 on Friday. The firm has a market capitalization of $472.00 million, a PE ratio of 22.00, a P/E/G ratio of 2.16 and a beta of 0.97. Climb Global Solutions has a twelve month low of $88.90 and a twelve month high of $145.02. The firm’s 50-day moving average price is $125.21 and its 200 day moving average price is $116.33.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.15 by $0.16. The company had revenue of $161.34 million during the quarter, compared to analyst estimates of $125.29 million. Climb Global Solutions had a return on equity of 27.35% and a net margin of 3.44%. On average, sell-side analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Institutional Trading of Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in Climb Global Solutions in the third quarter valued at approximately $27,000. Hilltop National Bank purchased a new stake in Climb Global Solutions in the second quarter valued at $35,000. IFP Advisors Inc lifted its stake in shares of Climb Global Solutions by 183.3% in the 2nd quarter. IFP Advisors Inc now owns 544 shares of the company’s stock valued at $58,000 after purchasing an additional 352 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Climb Global Solutions by 317.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after purchasing an additional 422 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in shares of Climb Global Solutions during the 1st quarter worth about $60,000. Institutional investors and hedge funds 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.