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

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

Other research analysts have also issued research reports about the company. Northland Securities lifted their target price on Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Barrington Research increased their target price on shares of Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th.

Cantaloupe Stock Up 0.9 %

Shares of NASDAQ:CTLP traded up $0.10 during midday trading on Wednesday, reaching $10.78. The company had a trading volume of 46,096 shares, compared to its average volume of 435,125. The stock has a market capitalization of $786.95 million, a P/E ratio of 53.88 and a beta of 1.64. The stock’s fifty day moving average price is $9.26 and its 200-day moving average price is $8.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.12. Cantaloupe has a one year low of $5.74 and a one year high of $11.36.

Cantaloupe (NASDAQ:CTLP) last released its earnings results on Thursday, February 6th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.04 earnings per share. Equities research analysts expect that Cantaloupe will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cantaloupe

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Cantaloupe by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 3,539,115 shares of the technology company’s stock valued at $33,657,000 after purchasing an additional 212,456 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Cantaloupe by 0.7% during the fourth quarter. Deutsche Bank AG now owns 2,966,050 shares of the technology company’s stock valued at $28,207,000 after buying an additional 20,314 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of Cantaloupe by 20.3% during the third quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock worth $11,937,000 after buying an additional 271,782 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in Cantaloupe by 0.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,608,375 shares of the technology company’s stock worth $11,902,000 after buying an additional 7,114 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Cantaloupe by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock worth $10,111,000 after buying an additional 46,518 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.