Cantaloupe (NASDAQ:CTLP) Sets New 12-Month High on Analyst Upgrade

Cantaloupe, Inc. (NASDAQ:CTLP) shares reached a new 52-week high on Wednesday after Barrington Research raised their price target on the stock from $12.00 to $14.00. Barrington Research currently has an outperform rating on the stock. Cantaloupe traded as high as $10.54 and last traded at $10.53, with a volume of 1247242 shares trading hands. The stock had previously closed at $9.93.

CTLP has been the subject of several other research reports. Benchmark raised their price target on Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northland Securities raised their target price on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Cantaloupe during the third quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Cantaloupe during the 4th quarter valued at approximately $40,000. Parkside Financial Bank & Trust purchased a new stake in Cantaloupe during the 4th quarter valued at $47,000. New York State Common Retirement Fund lifted its position in Cantaloupe by 75.8% in the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after buying an additional 3,400 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Cantaloupe during the fourth quarter worth $91,000. Institutional investors own 75.75% of the company’s stock.

Cantaloupe Price Performance

The firm has a market cap of $808.00 million, a P/E ratio of 55.35 and a beta of 1.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.60 and a quick ratio of 1.03. The stock’s 50-day simple moving average is $9.07 and its two-hundred day simple moving average is $8.32.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Cantaloupe had a net margin of 5.40% and a return on equity of 8.45%. During the same quarter in the prior year, the business posted $0.04 EPS. Equities research analysts forecast that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

About Cantaloupe

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.