Cantaloupe (NASDAQ:CTLP) Downgraded by B. Riley to Neutral

B. Riley cut shares of Cantaloupe (NASDAQ:CTLP) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat.com reports. They currently have $11.20 price target on the technology company’s stock, down from their previous price target of $11.50.

Several other research analysts have also commented on CTLP. Barrington Research lowered Cantaloupe from a “strong-buy” rating to a “strong sell” rating in a research report on Monday. Wall Street Zen lowered Cantaloupe from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Benchmark raised their price objective on Cantaloupe from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, William Blair lowered Cantaloupe from an “outperform” rating to a “market perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.24.

Cantaloupe Stock Performance

NASDAQ CTLP opened at $10.99 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $8.39 and its two-hundred day moving average is $8.74. Cantaloupe has a 12-month low of $5.82 and a 12-month high of $11.36. The stock has a market capitalization of $802.93 million, a price-to-earnings ratio of 13.91 and a beta of 1.09.

Cantaloupe (NASDAQ:CTLP) last released its earnings results on Thursday, May 8th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Cantaloupe had a return on equity of 9.02% and a net margin of 20.47%. The business had revenue of $75.43 million for the quarter, compared to analyst estimates of $79.83 million. Research analysts expect that Cantaloupe will post 0.32 EPS for the current year.

Institutional Trading of Cantaloupe

Several large investors have recently modified their holdings of CTLP. Janus Henderson Group PLC grew its stake in shares of Cantaloupe by 600.1% during the fourth quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company’s stock valued at $10,303,000 after acquiring an additional 930,061 shares in the last quarter. Nuveen LLC acquired a new position in Cantaloupe in the first quarter worth about $5,624,000. Nuveen Asset Management LLC grew its stake in Cantaloupe by 102.7% in the fourth quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company’s stock worth $8,561,000 after purchasing an additional 456,199 shares in the last quarter. Invesco Ltd. grew its stake in Cantaloupe by 1,768.2% in the fourth quarter. Invesco Ltd. now owns 397,299 shares of the technology company’s stock worth $3,778,000 after purchasing an additional 376,033 shares in the last quarter. Finally, Royce & Associates LP grew its stake in Cantaloupe by 99.6% in the fourth quarter. Royce & Associates LP now owns 563,000 shares of the technology company’s stock worth $5,354,000 after purchasing an additional 281,000 shares in the last quarter. 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.