Cantaloupe, Inc. (NASDAQ:CTLP) Receives $12.60 Consensus Target Price from Brokerages

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) have received a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $12.60.

A number of brokerages have recently weighed in on CTLP. Weiss Ratings upgraded Cantaloupe from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Wall Street Zen upgraded Cantaloupe to a “hold” rating in a report on Saturday, February 21st. Finally, Zacks Research raised Cantaloupe from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in Cantaloupe by 514.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,766 shares of the technology company’s stock worth $29,000 after acquiring an additional 2,316 shares during the period. Virtu Financial LLC grew its position in shares of Cantaloupe by 59.2% during the 4th quarter. Virtu Financial LLC now owns 53,945 shares of the technology company’s stock valued at $573,000 after acquiring an additional 20,062 shares during the period. Invesco Ltd. increased its stake in shares of Cantaloupe by 20.5% during the 4th quarter. Invesco Ltd. now owns 91,586 shares of the technology company’s stock worth $973,000 after purchasing an additional 15,595 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Cantaloupe by 13.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,627 shares of the technology company’s stock worth $304,000 after purchasing an additional 3,424 shares during the period. Finally, VARCOV Co. purchased a new position in Cantaloupe in the fourth quarter valued at approximately $134,000. Institutional investors own 75.75% of the company’s stock.

Cantaloupe Stock Performance

Shares of CTLP stock opened at $10.40 on Monday. The firm has a 50-day moving average of $10.58 and a 200-day moving average of $10.63. The company has a market cap of $766.69 million, a P/E ratio of 57.78 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.31. Cantaloupe has a one year low of $7.01 and a one year high of $11.16.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings results on Friday, February 6th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Cantaloupe had a return on equity of 8.76% and a net margin of 17.32%.The firm had revenue of $78.71 million for the quarter, compared to analysts’ expectations of $84.92 million. Equities research analysts forecast that Cantaloupe will post 0.32 EPS for the current fiscal year.

Cantaloupe Company Profile

Cantaloupe, Inc (NASDAQ: CTLP), formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.