Climb Global Solutions, Inc. (NASDAQ:CLMB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Climb Global Solutions, Inc. (NASDAQ:CLMB) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

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

Institutional Investors Weigh In On Climb Global Solutions

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

Climb Global Solutions Stock Performance

Shares of Climb Global Solutions stock opened at $28.33 on Tuesday. The company has a 50-day simple moving average of $27.19 and a two-hundred day simple moving average of $23.48. The stock has a market capitalization of $528.64 million, a PE ratio of 25.41, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09. Climb Global Solutions has a 52-week low of $15.24 and a 52-week high of $36.26.

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

Climb Global Solutions Company Profile

Climb Global Solutions, Inc is a technology-focused value-added distributor and solutions provider that connects software publishers, cloud service providers and other technology vendors with resellers and business customers. The company offers access to products and services across areas such as cybersecurity, cloud computing, data management, networking, infrastructure and information technology management.

Through its distribution operations, Climb helps channel partners source, market and deploy technology solutions.