Cantaloupe (NASDAQ:CTLP) Price Target Raised to $11.00 at Benchmark

by · The Cerbat Gem

Cantaloupe (NASDAQ:CTLP – Free Report) had its price objective increased by Benchmark from $10.00 to $11.00 in a research note published on Friday,Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

CTLP has been the topic of several other research reports. Barrington Research reissued an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Monday, November 4th. Craig Hallum dropped their price target on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Northland Securities reissued an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Friday, July 12th.

Check Out Our Latest Stock Analysis on CTLP

Cantaloupe Trading Down 4.8 %

Cantaloupe stock traded down $0.45 during mid-day trading on Friday, hitting $8.87. 829,706 shares of the company’s stock were exchanged, compared to its average volume of 337,139. The firm has a market capitalization of $647.42 million, a P/E ratio of 59.14 and a beta of 1.68. Cantaloupe has a fifty-two week low of $5.74 and a fifty-two week high of $9.67. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The company’s 50 day simple moving average is $7.93 and its 200-day simple moving average is $7.16.

Cantaloupe (NASDAQ:CTLP – Get Free Report) last issued its quarterly earnings data on Tuesday, September 10th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. The business had revenue of $72.66 million for the quarter, compared to analyst estimates of $76.14 million. During the same period in the previous year, the business posted $0.04 EPS. On average, equities analysts anticipate that Cantaloupe will post 0.31 earnings per share for the current year.

Insider Activity

In other Cantaloupe news, CEO Ravi Venkatesan purchased 8,000 shares of Cantaloupe stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the chief executive officer now owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Ravi Venkatesan acquired 8,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas Bergeron purchased 13,866 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average price of $7.15 per share, with a total value of $99,141.90. Following the completion of the transaction, the director now owns 192,185 shares of the company’s stock, valued at $1,374,122.75. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 57,866 shares of company stock worth $416,302 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in Cantaloupe during the second quarter valued at approximately $89,000. Price T Rowe Associates Inc. MD grew its stake in shares of Cantaloupe by 23.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock worth $111,000 after buying an additional 3,197 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Cantaloupe during the third quarter worth $119,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cantaloupe by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock worth $152,000 after buying an additional 9,374 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Cantaloupe during the third quarter worth $153,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Cantaloupe Company Profile

(Get Free Report)

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.

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