Barrington Research Reiterates Outperform Rating for Cantaloupe (NASDAQ:CTLP)

Cantaloupe (NASDAQ:CTLP - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Barrington Research in a research report issued on Monday, Benzinga reports. They presently have a $10.00 price target on the technology company's stock. Barrington Research's target price would suggest a potential upside of 9.17% from the stock's current price.

A number of other equities analysts have also recently weighed in on the stock. Benchmark reissued a "buy" rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Wednesday, September 11th. Craig Hallum cut their target price on shares of Cantaloupe from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Finally, Northland Securities restated an "outperform" rating and issued a $10.00 target price on shares of Cantaloupe in a research note on Friday, July 12th.

Cantaloupe Stock Up 1.9 %

Cantaloupe stock traded up $0.17 during trading on Monday, reaching $9.16. 318,348 shares of the company's stock were exchanged, compared to its average volume of 329,958. The company's 50-day moving average is $7.75 and its two-hundred day moving average is $7.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.10 and a current ratio of 1.49. Cantaloupe has a 52-week low of $5.74 and a 52-week high of $9.40. The firm has a market cap of $668.59 million, a price-to-earnings ratio of 61.07 and a beta of 1.68.

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 for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The firm had revenue of $72.66 million during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.04 earnings per share. On average, analysts predict that Cantaloupe will post 0.31 earnings per share for the current year.

Insider Activity

In other Cantaloupe news, CEO Ravi Venkatesan acquired 8,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price 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 in the company, valued at $860,945.40. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Douglas Bergeron purchased 36,000 shares of the company's stock in a transaction on Monday, September 30th. The shares were bought at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the purchase, the director now owns 462,319 shares of the company's stock, valued at $3,425,783.79. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ravi Venkatesan purchased 8,000 shares of the company's stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the purchase, the chief executive officer now directly owns 136,658 shares of the company's stock, valued at $860,945.40. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 57,866 shares of company stock worth $416,302. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cantaloupe

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in shares of Cantaloupe in the second quarter valued at approximately $89,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Cantaloupe by 23.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company's stock valued at $111,000 after acquiring an additional 3,197 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cantaloupe in the third quarter valued at approximately $164,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cantaloupe by 68.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company's stock valued at $152,000 after acquiring an additional 9,374 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Cantaloupe by 15.4% in the second quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company's stock valued at $159,000 after acquiring an additional 3,210 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

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.