Barrington Research Reiterates Outperform Rating for Cantaloupe (NASDAQ:CTLP)

Cantaloupe (NASDAQ:CTLP)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $12.00 target price on the technology company’s stock. Barrington Research’s price objective suggests a potential upside of 42.52% from the company’s current price.

A number of other research firms have also issued reports on CTLP. Benchmark upped their price target on Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Northland Securities boosted their price objective on Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th.

Cantaloupe Stock Performance

Shares of NASDAQ:CTLP opened at $8.42 on Monday. The business’s 50 day moving average price is $8.96 and its 200-day moving average price is $8.21. Cantaloupe has a 1 year low of $5.74 and a 1 year high of $10.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.60 and a quick ratio of 1.03. The firm has a market capitalization of $614.58 million, a PE ratio of 49.53 and a beta of 1.64.

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

Institutional Trading of Cantaloupe

Institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position in Cantaloupe by 272.2% in the third quarter. Barclays PLC now owns 113,920 shares of the technology company’s stock valued at $843,000 after purchasing an additional 83,316 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cantaloupe by 4.8% during 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 period. Geode Capital Management LLC increased its position in shares of Cantaloupe by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock valued at $10,111,000 after acquiring an additional 46,518 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cantaloupe by 340.6% in 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 during the period. Finally, State Street Corp raised its stake 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.

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.