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

Cantaloupe (NASDAQ:CTLP - Get Free Report) had its target price upped by research analysts at Benchmark from $10.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Benchmark's price target would indicate a potential upside of 24.01% from the stock's previous close.

Several other equities research analysts also recently weighed in on CTLP. Craig Hallum reduced their price target on Cantaloupe from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Barrington Research reiterated an "outperform" rating and set a $10.00 target price on shares of Cantaloupe in a research report on Monday. Finally, Northland Securities restated an "outperform" rating and issued a $10.00 price target on shares of Cantaloupe in a report on Friday, July 12th.

Cantaloupe Trading Down 4.8 %

Shares of Cantaloupe stock traded down $0.45 on Friday, reaching $8.87. The company had a trading volume of 829,585 shares, compared to its average volume of 337,139. The firm's 50-day moving average price is $7.89 and its two-hundred day moving average price is $7.14. Cantaloupe has a 1 year low of $5.74 and a 1 year high of $9.67. The firm has a market cap of $647.42 million, a price-to-earnings ratio of 58.67 and a beta of 1.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last released its earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $72.66 million during the quarter, compared to the consensus estimate of $76.14 million. Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. During the same quarter last year, the business posted $0.04 EPS. As a group, research analysts predict that Cantaloupe will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cantaloupe news, Director Douglas Bergeron bought 36,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were acquired at an average price of $7.41 per share, with a total value of $266,760.00. Following the transaction, the director now owns 462,319 shares of the company's stock, valued at approximately $3,425,783.79. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ravi Venkatesan purchased 8,000 shares of Cantaloupe stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $6.30 per share, with a total value of $50,400.00. Following the transaction, the chief executive officer now owns 136,658 shares in the company, valued at approximately $860,945.40. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Bergeron acquired 36,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the transaction, the director now owns 462,319 shares of the company's stock, valued at $3,425,783.79. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 57,866 shares of company stock valued at $416,302 over the last three months. 6.30% of the stock is owned by company insiders.

Institutional Trading of Cantaloupe

A number of institutional investors have recently modified their holdings of the company. ARS Investment Partners LLC lifted its position in Cantaloupe by 3.4% during the second quarter. ARS Investment Partners LLC now owns 50,059 shares of the technology company's stock valued at $330,000 after acquiring an additional 1,650 shares during the last quarter. ClariVest Asset Management LLC boosted its position in shares of Cantaloupe by 2.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 112,469 shares of the technology company's stock worth $742,000 after purchasing an additional 3,011 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Cantaloupe by 23.0% during the 1st 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. The Manufacturers Life Insurance Company increased its position in Cantaloupe by 15.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company's stock valued at $159,000 after buying an additional 3,210 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in Cantaloupe by 11.4% in the first quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company's stock valued at $222,000 after buying an additional 3,536 shares during the last quarter. 75.75% of the stock is currently owned by 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.