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

Cantaloupe (NASDAQ:CTLP) had its target price raised by equities research analysts at Barrington Research from $12.00 to $14.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Barrington Research’s price objective would indicate a potential upside of 32.33% from the company’s previous close.

A number of other brokerages have also recently issued reports on CTLP. 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 report on Monday, November 11th. Benchmark lifted their price target on Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Cantaloupe Stock Up 0.5 %

NASDAQ:CTLP traded up $0.05 during mid-day trading on Wednesday, reaching $10.58. The stock had a trading volume of 366,002 shares, compared to its average volume of 343,441. The company has a market capitalization of $772.23 million, a price-to-earnings ratio of 52.90 and a beta of 1.64. Cantaloupe has a 1-year low of $5.74 and a 1-year high of $10.69. The stock’s 50 day simple moving average is $9.00 and its two-hundred day simple moving average is $8.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.60 and a quick ratio of 1.03.

Cantaloupe (NASDAQ:CTLP) last issued its earnings results on Thursday, February 6th. The technology company reported $0.07 earnings per share (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 previous year, the company earned $0.04 EPS. Equities analysts anticipate that Cantaloupe will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cantaloupe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Cantaloupe by 272.2% during the third quarter. Barclays PLC now owns 113,920 shares of the technology company’s stock worth $843,000 after purchasing an additional 83,316 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 during the last quarter. Geode Capital Management LLC grew its position in Cantaloupe by 3.5% in 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 last quarter. JPMorgan Chase & Co. grew its position in Cantaloupe by 340.6% in the third quarter. JPMorgan Chase & Co. now owns 111,394 shares of the technology company’s stock worth $824,000 after buying an additional 86,109 shares during the last quarter. Finally, State Street Corp grew its position in Cantaloupe by 2.4% in the third quarter. State Street Corp now owns 1,237,888 shares of the technology company’s stock worth $9,160,000 after buying an additional 29,460 shares during the last quarter. Institutional investors 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.