Cantaloupe (NASDAQ:CTLP) Stock Price Expected to Rise, Benchmark Analyst Says

Cantaloupe (NASDAQ:CTLP) had its price target lifted by Benchmark from $10.00 to $11.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective points to a potential upside of 24.01% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Barrington Research reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a report on Monday, November 4th. Craig Hallum decreased their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $10.00 price target on shares of Cantaloupe in a research report on Friday, July 12th.

Cantaloupe Stock Down 4.8 %

Shares of NASDAQ CTLP opened at $8.87 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.10 and a current ratio of 1.49. Cantaloupe has a 52-week low of $5.74 and a 52-week high of $9.67. The firm has a 50 day moving average price of $7.93 and a 200 day moving average price of $7.17. The stock has a market cap of $647.42 million, a P/E ratio of 52.18 and a beta of 1.68.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $72.66 million during the quarter, compared to the consensus estimate of $76.14 million. Cantaloupe had a return on equity of 7.62% and a net margin of 4.90%. During the same quarter last year, the company earned $0.04 earnings per share. Analysts expect that Cantaloupe will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, Director Douglas Bergeron purchased 13,866 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $7.15 per share, with a total value of $99,141.90. Following the acquisition, the director now directly owns 192,185 shares in the company, valued at $1,374,122.75. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Ravi Venkatesan acquired 8,000 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas Bergeron bought 13,866 shares of Cantaloupe stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $7.15 per share, with a total value of $99,141.90. Following the transaction, the director now owns 192,185 shares of the company’s stock, valued at $1,374,122.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 57,866 shares of company stock valued at $416,302 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cantaloupe

Hedge funds have recently bought and sold shares of the business. ARS Investment Partners LLC increased its holdings in shares of Cantaloupe by 3.4% during the second quarter. ARS Investment Partners LLC now owns 50,059 shares of the technology company’s stock worth $330,000 after purchasing an additional 1,650 shares during the period. ClariVest Asset Management LLC lifted its position in shares of Cantaloupe by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 112,469 shares of the technology company’s stock valued at $742,000 after acquiring an additional 3,011 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Cantaloupe by 23.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock worth $111,000 after purchasing an additional 3,197 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cantaloupe by 15.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after purchasing an additional 3,210 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in shares of Cantaloupe by 11.4% in the first quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company’s stock worth $222,000 after purchasing an additional 3,536 shares during the period. 75.75% of the stock is owned by institutional investors.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.