Cantaloupe’s (CTLP) Outperform Rating Reiterated at Barrington Research

Cantaloupe (NASDAQ:CTLP)‘s stock had its “outperform” rating reissued by stock analysts at Barrington Research in a research report issued on Monday, Benzinga reports. They presently have a $10.00 price target on the technology company’s stock. Barrington Research’s target price suggests a potential upside of 9.41% from the company’s previous close.

Several other analysts have also recently commented on the company. Benchmark restated a “buy” rating and set a $10.00 target price on shares of Cantaloupe in a report on Wednesday, September 11th. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a research note on Friday, July 12th. Finally, Craig Hallum decreased their price target on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th.

Cantaloupe Price Performance

NASDAQ CTLP traded up $0.15 on Monday, reaching $9.14. The company’s stock had a trading volume of 87,275 shares, compared to its average volume of 328,874. The firm has a market cap of $667.13 million, a PE ratio of 60.60 and a beta of 1.68. The business has a 50-day moving average price of $7.70 and a 200 day moving average price of $7.07. Cantaloupe has a 52 week low of $5.74 and a 52 week high of $9.40. 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 (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 analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $72.66 million during the quarter, compared to the consensus estimate of $76.14 million. Cantaloupe had a net margin of 4.47% and a return on equity of 6.83%. During the same quarter last year, the firm posted $0.04 EPS. Sell-side analysts expect that Cantaloupe will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Douglas Bergeron acquired 13,866 shares of Cantaloupe stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $7.15 per share, with a total value of $99,141.90. Following the acquisition, the director now owns 192,185 shares in the company, valued at $1,374,122.75. This 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. In other news, Director Douglas Bergeron acquired 13,866 shares of Cantaloupe stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $7.15 per share, with a total value of $99,141.90. Following the acquisition, the director now owns 192,185 shares in the company, valued at $1,374,122.75. This 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, CEO Ravi Venkatesan purchased 8,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the purchase, the chief executive officer now owns 136,658 shares in the company, valued at $860,945.40. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 57,866 shares of company stock valued at $416,302. 6.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in shares of Cantaloupe in the 2nd quarter valued at $89,000. Price T Rowe Associates Inc. MD increased its position in shares of Cantaloupe by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock valued at $111,000 after buying an additional 3,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cantaloupe by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock valued at $152,000 after buying an additional 9,374 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Cantaloupe by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock valued at $159,000 after buying an additional 3,210 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Cantaloupe in the 3rd quarter valued at $164,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Company Profile

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.