Cantaloupe (NASDAQ:CTLP) Sets New 52-Week High - Should You Buy?

Shares of Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $11.16 and last traded at $11.15, with a volume of 619914 shares trading hands. The stock had previously closed at $10.67.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CTLP shares. Barrington Research boosted their price objective on Cantaloupe from $12.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Benchmark upped their target price on Cantaloupe from $10.00 to $11.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Northland Securities upped their target price on Cantaloupe from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Monday, November 11th.

Cantaloupe Stock Performance

The company has a market capitalization of $770.57 million, a PE ratio of 52.75 and a beta of 1.64. The company has a 50 day moving average of $9.26 and a two-hundred day moving average of $8.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.12.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.04 EPS. As a group, equities research analysts predict that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cantaloupe

A number of institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Cantaloupe during the third quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in Cantaloupe in the fourth quarter valued at about $40,000. Parkside Financial Bank & Trust bought a new position in Cantaloupe in the fourth quarter valued at about $47,000. New York State Common Retirement Fund lifted its holdings in Cantaloupe by 75.8% in the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company's stock valued at $75,000 after acquiring an additional 3,400 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Cantaloupe in the fourth quarter valued at about $77,000. 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.