Cantaloupe (NASDAQ:CTLP) Sets New 1-Year High After Analyst Upgrade

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price hit a new 52-week high on Wednesday after Barrington Research raised their price target on the stock from $12.00 to $14.00. Barrington Research currently has an outperform rating on the stock. Cantaloupe traded as high as $10.54 and last traded at $10.53, with a volume of 1247242 shares. The stock had previously closed at $9.93.

A number of other analysts have also recently weighed in on the stock. Northland Securities boosted their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Benchmark boosted their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Institutional Investors Weigh In On Cantaloupe

Several hedge funds have recently modified their holdings of CTLP. Quarry LP acquired a new position in Cantaloupe during the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Cantaloupe during the fourth quarter valued at about $40,000. Parkside Financial Bank & Trust bought a new stake in shares of Cantaloupe in the fourth quarter valued at about $47,000. New York State Common Retirement Fund grew its position in Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after buying an additional 3,400 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Cantaloupe during the fourth quarter valued at about $91,000. 75.75% of the stock is owned by institutional investors.

Cantaloupe Stock Performance

The firm has a fifty day simple moving average of $9.07 and a 200 day simple moving average of $8.32. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The stock has a market cap of $808.00 million, a price-to-earnings ratio of 55.35 and a beta of 1.64.

Cantaloupe (NASDAQ:CTLP) last issued its earnings results 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 return on equity of 8.45% and a net margin of 5.40%. During the same period last year, the business earned $0.04 earnings per share. As a group, sell-side analysts expect that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

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.