Cantaloupe (NASDAQ:CTLP) Given New $12.00 Price Target at Northland Securities

Cantaloupe (NASDAQ:CTLP) had its price objective boosted by Northland Securities from $10.00 to $12.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Northland Securities’ price objective suggests a potential upside of 30.58% from the company’s current price.

Several other equities analysts have also commented on CTLP. Craig Hallum reduced their price objective on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Benchmark lifted their price target on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Monday, November 4th.

Cantaloupe Stock Down 0.4 %

CTLP stock opened at $9.19 on Monday. The company’s 50 day moving average is $7.98 and its 200 day moving average is $7.20. The stock has a market cap of $670.78 million, a price-to-earnings 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 1-year low of $5.74 and a 1-year high of $9.67.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Cantaloupe had a net margin of 4.90% and a return on equity of 7.62%. The firm had revenue of $70.84 million for the quarter, compared to analysts’ expectations of $70.54 million. During the same quarter last year, the company posted $0.02 EPS. Sell-side analysts predict that Cantaloupe will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, Director Douglas Bergeron purchased 36,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the acquisition, the director now directly owns 462,319 shares of the company’s stock, valued at $3,425,783.79. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cantaloupe news, CEO Ravi Venkatesan purchased 8,000 shares of Cantaloupe stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the acquisition, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas Bergeron purchased 36,000 shares of the stock in a transaction on Monday, September 30th. The shares were acquired at an average cost of $7.41 per share, with a total value of $266,760.00. Following the transaction, the director now directly owns 462,319 shares in the company, valued at $3,425,783.79. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 57,866 shares of company stock valued at $416,302. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cantaloupe

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

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.