Cantaloupe (NASDAQ:CTLP) Sets New 52-Week High After Analyst Upgrade

Cantaloupe, Inc. (NASDAQ:CTLP) shares hit a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at $9.93.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Cantaloupe by 272.2% in the 3rd quarter. Barclays PLC now owns 113,920 shares of the technology company’s stock worth $843,000 after purchasing an additional 83,316 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cantaloupe by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company’s stock worth $3,518,000 after buying an additional 21,938 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cantaloupe by 3.5% during the third 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 during the period. JPMorgan Chase & Co. boosted its position in Cantaloupe by 340.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,394 shares of the technology company’s stock valued at $824,000 after acquiring an additional 86,109 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Cantaloupe by 2.4% in the 3rd quarter. State Street Corp now owns 1,237,888 shares of the technology company’s stock valued at $9,160,000 after acquiring an additional 29,460 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Cantaloupe Trading Up 3.1 %

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 capitalization of $808.00 million, a P/E ratio of 55.35 and a beta of 1.64. The company has a 50-day moving average price of $9.07 and a 200 day moving average price of $8.32.

Cantaloupe (NASDAQ:CTLP) last announced its earnings results on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Cantaloupe had a net margin of 5.40% and a return on equity of 8.45%. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, research analysts forecast that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal 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.