Cantaloupe (NASDAQ:CTLP) Hits New 1-Year High - Still a Buy?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.45 and last traded at $9.45, with a volume of 513 shares changing hands. The stock had previously closed at $9.24.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTLP. Benchmark reiterated a "buy" rating and issued a $10.00 price objective on shares of Cantaloupe in a report on Wednesday, September 11th. Craig Hallum decreased their target price on shares of Cantaloupe from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Northland Securities reissued an "outperform" rating and issued a $10.00 target price on shares of Cantaloupe in a research note on Friday, July 12th. Finally, Barrington Research reissued an "outperform" rating and issued a $10.00 target price on shares of Cantaloupe in a research note on Friday, September 13th.

Cantaloupe Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10. The stock's 50-day simple moving average is $7.22 and its 200 day simple moving average is $6.85. The stock has a market capitalization of $664.76 million, a P/E ratio of 57.06 and a beta of 1.71.

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

Insider Buying and Selling

In other news, CEO Ravi Venkatesan acquired 8,000 shares of Cantaloupe stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the purchase, the chief executive officer now directly owns 136,658 shares of the company's stock, valued at approximately $860,945.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Cantaloupe news, Director Douglas Bergeron acquired 36,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the transaction, the director now directly owns 462,319 shares in the company, valued at $3,425,783.79. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ravi Venkatesan bought 8,000 shares of the firm's stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 136,658 shares of the company's stock, valued at approximately $860,945.40. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 57,866 shares of company stock worth $416,302. Company insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Cantaloupe

A number of institutional investors have recently added to or reduced their stakes in CTLP. Assenagon Asset Management S.A. bought a new position in Cantaloupe in the second quarter valued at about $89,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Cantaloupe by 23.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company's stock worth $111,000 after purchasing an additional 3,197 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cantaloupe by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company's stock worth $152,000 after purchasing an additional 9,374 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cantaloupe by 15.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company's stock worth $159,000 after purchasing an additional 3,210 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Cantaloupe during the third quarter worth about $164,000. 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.