Cantaloupe (NASDAQ:CTLP) Releases Earnings Results

Cantaloupe (NASDAQ:CTLP - Get Free Report) announced its quarterly earnings data on Thursday. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01, Zacks reports. The company had revenue of $67.90 million for the quarter, compared to analyst estimates of $69.57 million. Cantaloupe had a return on equity of 8.95% and a net margin of 5.90%. During the same quarter last year, the firm earned $0.09 EPS. Cantaloupe updated its FY 2024 guidance to EPS.

Cantaloupe Price Performance

CTLP stock traded up $0.89 during trading on Friday, hitting $6.74. 1,132,824 shares of the stock traded hands, compared to its average volume of 269,253. The stock has a market cap of $490.67 million, a price-to-earnings ratio of 35.48 and a beta of 1.51. Cantaloupe has a one year low of $5.74 and a one year high of $8.28. The company has a current ratio of 1.64, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $6.62.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTLP shares. Benchmark reissued a "buy" rating and issued a $10.00 price target on shares of Cantaloupe in a report on Monday, March 25th. Barrington Research reissued an "outperform" rating and issued a $10.00 target price on shares of Cantaloupe in a research note on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Cantaloupe presently has a consensus rating of "Buy" and a consensus target price of $9.88.

Insiders Place Their Bets

In other Cantaloupe news, CEO Ravi Venkatesan purchased 7,749 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $6.45 per share, with a total value of $49,981.05. Following the acquisition, the chief executive officer now directly owns 128,658 shares of the company's stock, valued at approximately $829,844.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ravi Venkatesan acquired 7,749 shares of the firm's stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $6.45 per share, with a total value of $49,981.05. Following the acquisition, the chief executive officer now directly owns 128,658 shares in the company, valued at $829,844.10. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hudson Executive Capital Lp sold 90,582 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $6.30, for a total transaction of $570,666.60. Following the completion of the sale, the insider now owns 9,270,694 shares of the company's stock, valued at approximately $58,405,372.20. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments 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, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.

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