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

Cantaloupe (NASDAQ:CTLP) had its target price raised by Benchmark from $10.00 to $11.00 in a report published on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on CTLP. Northland Securities restated an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a report on Friday, July 12th. Barrington Research restated an “outperform” rating and set a $10.00 price target on shares of Cantaloupe in a research note on Monday, November 4th. Finally, Craig Hallum dropped 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.

Cantaloupe Price Performance

Shares of NASDAQ:CTLP opened at $9.23 on Friday. The firm has a market capitalization of $673.70 million, a price-to-earnings ratio of 54.30 and a beta of 1.68. The company’s fifty day moving average price is $7.98 and its 200-day moving average price is $7.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10. Cantaloupe has a one year low of $5.74 and a one year high of $9.67.

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

Insider Activity

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

Institutional Trading of Cantaloupe

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC raised its position in shares of Cantaloupe by 53.2% in the first quarter. Susquehanna Fundamental Investments LLC now owns 50,333 shares of the technology company’s stock valued at $324,000 after buying an additional 17,479 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in Cantaloupe in the second quarter valued at $2,276,000. Assenagon Asset Management S.A. acquired a new stake in Cantaloupe during the 2nd quarter worth $89,000. Inspire Investing LLC purchased a new position in Cantaloupe during the 3rd quarter worth approximately $416,000. Finally, Harbor Capital Advisors Inc. grew its position in 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 last quarter. 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.