Analysts Set Cantaloupe, Inc. (NASDAQ:CTLP) Target Price at $12.24

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) has earned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $12.24.

A number of analysts have recently weighed in on CTLP shares. William Blair lowered Cantaloupe from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. Benchmark cut shares of Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Craig Hallum cut shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Barrington Research lowered shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 16th. Finally, Wall Street Zen downgraded Cantaloupe from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd.

Institutional Investors Weigh In On Cantaloupe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its holdings in shares of Cantaloupe by 3.5% during the first quarter. Inspire Investing LLC now owns 43,167 shares of the technology company's stock valued at $340,000 after purchasing an additional 1,470 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cantaloupe by 5.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,263 shares of the technology company's stock valued at $238,000 after buying an additional 1,622 shares in the last quarter. Rhumbline Advisers increased its position in Cantaloupe by 3.4% during the 1st quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock valued at $659,000 after buying an additional 2,725 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cantaloupe by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company's stock valued at $844,000 after buying an additional 2,792 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Cantaloupe by 62.4% in the second quarter. Farther Finance Advisors LLC now owns 7,296 shares of the technology company's stock worth $80,000 after acquiring an additional 2,803 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Cantaloupe Price Performance

CTLP traded down $0.01 during midday trading on Friday, hitting $11.02. The stock had a trading volume of 1,358,503 shares, compared to its average volume of 675,364. Cantaloupe has a 1 year low of $5.82 and a 1 year high of $11.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.79. The business has a fifty day moving average of $9.50 and a 200 day moving average of $8.93. The company has a market cap of $805.12 million, a P/E ratio of 50.14 and a beta of 1.17.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Cantaloupe had a net margin of 20.47% and a return on equity of 9.02%. The company had revenue of $75.43 million for the quarter, compared to the consensus estimate of $79.83 million. As a group, equities analysts forecast that Cantaloupe will post 0.32 earnings per share for the current fiscal year.

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.