Cantaloupe (NASDAQ:CTLP) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.00 and traded as high as $8.85. Cantaloupe shares last traded at $8.72, with a volume of 232,795 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Benchmark boosted 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. Barrington Research reiterated an "outperform" rating and set a $10.00 target price on shares of Cantaloupe in a research report on Monday, November 4th. Finally, Northland Securities raised their price target on Cantaloupe from $10.00 to $12.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th.

Cantaloupe Price Performance

The company has a market capitalization of $607.24 million, a P/E ratio of 48.94 and a beta of 1.64. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19. The business has a 50 day simple moving average of $9.25 and a 200-day simple moving average of $8.01.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted its earnings results on Thursday, November 7th. The technology company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. The firm had revenue of $70.84 million for the quarter, compared to analysts' expectations of $70.54 million. During the same period last year, the firm earned $0.02 EPS. Analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cantaloupe

Institutional investors have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Cantaloupe by 272.2% in the 3rd quarter. Barclays PLC now owns 113,920 shares of the technology company's stock valued at $843,000 after acquiring an additional 83,316 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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. First Eagle Investment Management LLC bought a new stake in shares of Cantaloupe during the 2nd quarter worth $2,276,000. State Street Corp grew its stake in 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 buying an additional 29,460 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cantaloupe by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company's stock worth $10,111,000 after acquiring an additional 46,518 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.