Northland Securities Forecasts Strong Price Appreciation for Cantaloupe (NASDAQ:CTLP) Stock

Cantaloupe (NASDAQ:CTLP) had its price objective lifted by Northland Securities from $10.00 to $12.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages also recently weighed in on CTLP. Benchmark boosted their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday. Craig Hallum reduced their price target 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, Barrington Research reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Monday, November 4th.

Cantaloupe Stock Up 4.1 %

Shares of NASDAQ:CTLP opened at $9.23 on Monday. The company has a market capitalization of $673.70 million, a PE ratio of 54.30 and a beta of 1.68. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. Cantaloupe has a twelve month low of $5.74 and a twelve month high of $9.67. The firm has a 50 day simple moving average of $7.98 and a 200-day simple moving average of $7.20.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $70.84 million during the quarter, compared to the consensus estimate of $70.54 million. Cantaloupe had a net margin of 4.90% and a return on equity of 7.62%. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, equities analysts predict that Cantaloupe will post 0.32 EPS for the current fiscal year.

Insider Activity at Cantaloupe

In other Cantaloupe news, CEO Ravi Venkatesan purchased 8,000 shares of Cantaloupe stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at $860,945.40. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Douglas Bergeron acquired 13,866 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $7.15 per share, with a total value of $99,141.90. Following the purchase, the director now owns 192,185 shares of the company’s stock, valued at $1,374,122.75. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ravi Venkatesan acquired 8,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the purchase, the chief executive officer now directly owns 136,658 shares in the company, valued at $860,945.40. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 57,866 shares of company stock worth $416,302 in the last 90 days. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors have recently bought and sold shares of CTLP. First Eagle Investment Management LLC acquired a new position in Cantaloupe in the 2nd quarter valued at $2,276,000. Archon Capital Management LLC grew its stake in shares of Cantaloupe by 8.2% during the 1st quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock worth $9,221,000 after purchasing an additional 108,423 shares during the period. Janus Henderson Group PLC grew its stake in shares of Cantaloupe by 152.7% during the 1st quarter. Janus Henderson Group PLC now owns 99,321 shares of the technology company’s stock worth $638,000 after purchasing an additional 60,013 shares during the period. Inspire Investing LLC acquired a new position in shares of Cantaloupe during the 3rd quarter worth $416,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Cantaloupe by 143.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 82,124 shares of the technology company’s stock worth $542,000 after purchasing an additional 48,356 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

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.