Cantaloupe (NASDAQ:CTLP) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cantaloupe (NASDAQ:CTLPGet Rating) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $5.50 target price on the technology company’s stock.

According to Zacks, “Cantaloupe Inc. is a software and payments company which provides end-to-end technology solutions for the unattended retail market. Cantaloupe Inc., formerly known as USA Technologies Inc., is based in MALVERN, Pa. “

Several other research analysts have also recently issued reports on CTLP. Lake Street Capital decreased their price target on Cantaloupe from $14.00 to $8.00 in a research note on Friday, May 6th. TheStreet cut Cantaloupe from a c- rating to a d rating in a research note on Monday, January 10th. Finally, Barrington Research decreased their target price on Cantaloupe from $15.00 to $13.00 in a research note on Tuesday. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $10.88.

NASDAQ:CTLP opened at $4.92 on Tuesday. Cantaloupe has a 1 year low of $4.64 and a 1 year high of $13.25. The stock has a market cap of $349.74 million, a price-to-earnings ratio of 123.03 and a beta of 2.05. The business has a fifty day moving average of $6.19 and a 200-day moving average of $7.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.78 and a current ratio of 1.97.

Cantaloupe (NASDAQ:CTLPGet Rating) last released its quarterly earnings results on Thursday, May 5th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.05. Cantaloupe had a return on equity of 2.00% and a net margin of 1.55%. During the same period in the previous year, the business earned ($0.03) earnings per share. On average, equities research analysts predict that Cantaloupe will post -0.07 EPS for the current year.

In other news, Director Ian Jiro Harris bought 13,940 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The stock was acquired at an average price of $7.76 per share, with a total value of $108,174.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 18.51% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Addison Advisors LLC acquired a new position in shares of Cantaloupe in the 4th quarter valued at $38,000. Royal Bank of Canada acquired a new position in shares of Cantaloupe in the 2nd quarter valued at $55,000. Macquarie Group Ltd. acquired a new position in shares of Cantaloupe in the 3rd quarter valued at $68,000. Principal Financial Group Inc. acquired a new position in shares of Cantaloupe in the 1st quarter valued at $72,000. Finally, Davy Global Fund Management Ltd acquired a new position in shares of Cantaloupe in the 1st quarter valued at $83,000. Institutional investors and hedge funds own 83.37% of the company’s stock.

About Cantaloupe (Get Rating)

Cantaloupe, Inc, a digital payment and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment devices in the field for the wireless transfer.

Further Reading

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