Benchmark Raises Cantaloupe (NASDAQ:CTLP) Price Target to $11.00

Cantaloupe (NASDAQ:CTLP) had its price objective boosted by Benchmark from $10.00 to $11.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s price target would indicate a potential upside of 26.73% from the stock’s current price.

CTLP has been the topic of a number of other research reports. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Monday. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Friday, July 12th. Finally, Craig Hallum cut their target price on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th.

Cantaloupe Trading Down 6.9 %

NASDAQ CTLP traded down $0.64 on Friday, reaching $8.68. 178,076 shares of the company were exchanged, compared to its average volume of 334,136. The stock has a market capitalization of $633.55 million, a P/E ratio of 57.07 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 fifty-two week low of $5.74 and a fifty-two week high of $9.67. The business’s fifty day moving average price is $7.89 and its 200 day moving average price is $7.14.

Cantaloupe (NASDAQ:CTLP) last posted its 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). Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. The firm had revenue of $72.66 million for the quarter, compared to analyst estimates of $76.14 million. During the same period in the previous year, the company posted $0.04 EPS. Analysts forecast that Cantaloupe will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Douglas Bergeron purchased 36,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Douglas Bergeron bought 36,000 shares of the stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the purchase, the director now owns 462,319 shares of the company’s stock, valued at $3,425,783.79. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ravi Venkatesan bought 8,000 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average price 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 approximately $860,945.40. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 57,866 shares of company stock worth $416,302 in the last quarter. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cantaloupe

A number of institutional investors have recently made changes to their positions in CTLP. Disciplined Growth Investors Inc. MN grew its position in Cantaloupe by 0.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,601,261 shares of the technology company’s stock valued at $10,568,000 after acquiring an additional 14,431 shares during the period. Archon Capital Management LLC grew its holdings in shares of Cantaloupe by 8.2% during the first quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock valued at $9,221,000 after purchasing an additional 108,423 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Cantaloupe during the second quarter valued at approximately $2,276,000. Bank of New York Mellon Corp grew its holdings in Cantaloupe by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company’s stock worth $1,405,000 after buying an additional 20,835 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its holdings in Cantaloupe by 2.8% in the 2nd 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. 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.