Cantaloupe (NASDAQ:CTLP) Price Target Cut to $11.00

Cantaloupe (NASDAQ:CTLP) had its price objective decreased by Craig Hallum from $13.00 to $11.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. Craig Hallum currently has a buy rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on CTLP. Barrington Research restated an outperform rating and set a $10.00 price objective on shares of Cantaloupe in a report on Friday, September 6th. Northland Securities restated an outperform rating and set a $10.00 price objective on shares of Cantaloupe in a report on Friday, July 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cantaloupe currently has an average rating of Buy and an average target price of $10.00.

Cantaloupe Price Performance

CTLP stock opened at $6.32 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. Cantaloupe has a 52-week low of $5.74 and a 52-week high of $7.91. The stock’s 50 day moving average is $6.89 and its two-hundred day moving average is $6.61. The company has a market capitalization of $461.30 million, a PE ratio of 39.50 and a beta of 1.70.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. The business had revenue of $72.66 million for the quarter, compared to analysts’ expectations of $76.14 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Analysts predict that Cantaloupe will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cantaloupe

A number of institutional investors have recently made changes to their positions in CTLP. Assenagon Asset Management S.A. bought a new stake in shares of Cantaloupe in the 2nd quarter valued at approximately $89,000. Price T Rowe Associates Inc. MD boosted its position in Cantaloupe by 23.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock valued at $111,000 after purchasing an additional 3,197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cantaloupe by 68.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock valued at $152,000 after purchasing an additional 9,374 shares during the period. The Manufacturers Life Insurance Company boosted its position in Cantaloupe by 15.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock valued at $159,000 after purchasing an additional 3,210 shares during the period. Finally, Squarepoint Ops LLC boosted its position in Cantaloupe by 163.2% during the 2nd quarter. Squarepoint Ops LLC now owns 31,228 shares of the technology company’s stock valued at $206,000 after purchasing an additional 19,365 shares during the period. 75.75% of the stock is currently owned by institutional investors.

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.