Brokerages Set Cantaloupe, Inc. (NASDAQ:CTLP) Target Price at $12.55

Cantaloupe, Inc. (NASDAQ:CTLP) has earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.55.

A number of research firms have commented on CTLP. Benchmark downgraded shares of Cantaloupe from a “buy” rating to a “hold” rating in a research note on Tuesday, June 17th. Barrington Research cut shares of Cantaloupe from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, June 16th. William Blair downgraded Cantaloupe from an “outperform” rating to a “market perform” rating in a research note on Monday, June 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Cantaloupe in a research note on Saturday, September 27th. Finally, Craig Hallum lowered Cantaloupe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 17th.

Insiders Place Their Bets

In other Cantaloupe news, CTO Gaurav Singal sold 14,544 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $10.61, for a total transaction of $154,311.84. Following the completion of the sale, the chief technology officer owned 25,989 shares in the company, valued at $275,743.29. The trade was a 35.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in Cantaloupe by 8,886.0% in the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company’s stock worth $35,000 after acquiring an additional 4,443 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Cantaloupe by 136.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,746 shares of the technology company’s stock worth $52,000 after purchasing an additional 2,737 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Cantaloupe by 55.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,772 shares of the technology company’s stock worth $63,000 after purchasing an additional 2,063 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Cantaloupe during the 2nd quarter valued at approximately $76,000. Finally, Bailard Inc. bought a new position in Cantaloupe during the 1st quarter worth $87,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Stock Down 0.3%

CTLP stock opened at $10.57 on Friday. Cantaloupe has a twelve month low of $7.01 and a twelve month high of $11.36. The company has a current ratio of 1.86, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $775.52 million, a P/E ratio of 13.38 and a beta of 1.07. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $9.69.

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.