Cantaloupe (NASDAQ:CTLP) Given New $12.00 Price Target at Northland Securities

Cantaloupe (NASDAQ:CTLP) had its target price lifted by Northland Securities from $10.00 to $12.00 in a research report report published on Monday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Benchmark boosted their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Monday, November 4th. Finally, Craig Hallum decreased their target price on Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th.

Cantaloupe Price Performance

NASDAQ:CTLP opened at $8.93 on Monday. The business’s 50-day moving average is $8.09 and its 200 day moving average is $7.24. Cantaloupe has a 12 month low of $5.74 and a 12 month high of $9.67. 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 company has a market capitalization of $651.80 million, a P/E ratio of 52.53 and a beta of 1.68.

Cantaloupe (NASDAQ:CTLP) last announced its earnings results on Thursday, November 7th. The technology company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $70.84 million during the quarter, compared to analysts’ expectations of $70.54 million. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. During the same quarter in the previous year, the business earned $0.02 EPS. On average, equities research analysts forecast that Cantaloupe will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other Cantaloupe news, Director Douglas Bergeron purchased 36,000 shares of Cantaloupe stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $7.41 per share, with a total value of $266,760.00. Following the acquisition, the director now owns 462,319 shares of the company’s stock, valued at $3,425,783.79. This trade represents a 8.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ravi Venkatesan bought 8,000 shares of Cantaloupe stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $6.30 per share, with a total value of $50,400.00. Following the completion of the purchase, the chief executive officer now owns 136,658 shares in the company, valued at approximately $860,945.40. This trade represents a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 57,866 shares of company stock valued at $416,302 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently modified their holdings of CTLP. Wasatch Advisors LP grew its holdings in Cantaloupe by 20.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock valued at $11,937,000 after buying an additional 271,782 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Cantaloupe by 34.0% during the 3rd quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock valued at $116,000 after acquiring an additional 3,975 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cantaloupe by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company’s stock valued at $3,518,000 after purchasing an additional 21,938 shares during the period. Intech Investment Management LLC acquired a new stake in Cantaloupe during the third quarter worth about $119,000. Finally, GSA Capital Partners LLP purchased a new position in Cantaloupe during the third quarter worth about $153,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.