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

Cantaloupe (NASDAQ:CTLP) had its price target raised by stock analysts at Benchmark from $11.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s target price indicates a potential upside of 29.35% from the company’s current price.

CTLP has been the subject of a number of other reports. Northland Securities increased their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Barrington Research increased their price target on Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th.

Cantaloupe Stock Down 3.6 %

Shares of NASDAQ CTLP opened at $10.05 on Wednesday. The firm has a fifty day simple moving average of $9.29 and a two-hundred day simple moving average of $8.56. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $734.00 million, a PE ratio of 50.25 and a beta of 1.64. Cantaloupe has a 12 month low of $5.75 and a 12 month high of $11.36.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. During the same quarter last year, the firm posted $0.04 earnings per share. Equities analysts expect that Cantaloupe will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTLP. Janus Henderson Group PLC lifted its position in shares of Cantaloupe by 600.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company’s stock valued at $10,303,000 after acquiring an additional 930,061 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Cantaloupe by 102.7% in the fourth quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company’s stock worth $8,561,000 after buying an additional 456,199 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Cantaloupe by 1,768.2% during the 4th quarter. Invesco Ltd. now owns 397,299 shares of the technology company’s stock worth $3,778,000 after purchasing an additional 376,033 shares during the last quarter. Royce & Associates LP grew its holdings in Cantaloupe by 99.6% in the 4th quarter. Royce & Associates LP now owns 563,000 shares of the technology company’s stock valued at $5,354,000 after buying an additional 281,000 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in Cantaloupe by 20.3% during the third quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock worth $11,937,000 after purchasing an additional 271,782 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.