Cantaloupe (NASDAQ:CTLP) Stock Price Expected to Rise, Benchmark Analyst Says

Cantaloupe (NASDAQ:CTLP) had its price objective boosted by research analysts at Benchmark from $11.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s target price indicates a potential upside of 20.65% from the company’s current price.

A number of other research firms also recently commented on CTLP. Barrington Research boosted their price objective on Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Northland Securities boosted their price target on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th.

Cantaloupe Price Performance

Shares of CTLP stock traded up $0.10 during midday trading on Wednesday, reaching $10.78. 46,096 shares of the company were exchanged, compared to its average volume of 435,125. The company’s 50 day moving average price is $9.26 and its two-hundred day moving average price is $8.53. The company has a market cap of $786.95 million, a P/E ratio of 53.88 and a beta of 1.64. Cantaloupe has a 12 month low of $5.74 and a 12 month high of $11.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.12 and a current ratio of 1.81.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Cantaloupe had a net margin of 5.40% and a return on equity of 8.36%. During the same quarter last year, the firm earned $0.04 EPS. On average, sell-side analysts expect that Cantaloupe will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cantaloupe

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of Cantaloupe by 272.2% during the third quarter. Barclays PLC now owns 113,920 shares of the technology company’s stock valued at $843,000 after purchasing an additional 83,316 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cantaloupe by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company’s stock worth $3,518,000 after purchasing an additional 21,938 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Cantaloupe by 340.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,394 shares of the technology company’s stock worth $824,000 after buying an additional 86,109 shares during the period. Geode Capital Management LLC lifted its stake in Cantaloupe by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock valued at $10,111,000 after buying an additional 46,518 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Cantaloupe by 2.4% in the third quarter. State Street Corp now owns 1,237,888 shares of the technology company’s stock worth $9,160,000 after buying an additional 29,460 shares during the period. Institutional investors and hedge funds 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.