Cantaloupe (NASDAQ:CTLP) Shares Gap Up – Should You Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) shares gapped up prior to trading on Monday . The stock had previously closed at $9.50, but opened at $10.85. Cantaloupe shares last traded at $10.96, with a volume of 829,985 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CTLP shares. William Blair cut Cantaloupe from an “outperform” rating to a “market perform” rating in a research note on Monday. Benchmark lifted their target price on Cantaloupe from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of Cantaloupe in a research report on Wednesday, May 21st. Finally, Wall Street Zen cut Cantaloupe from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cantaloupe has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Cantaloupe Stock Up 15.2%

The stock’s 50 day moving average is $8.25 and its 200 day moving average is $8.71. The firm has a market cap of $799.62 million, a price-to-earnings ratio of 54.73 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $79.83 million. Cantaloupe had a net margin of 5.40% and a return on equity of 8.36%. Analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CTLP. Harvest Fund Management Co. Ltd bought a new stake in Cantaloupe in the fourth quarter valued at $40,000. Farther Finance Advisors LLC grew its holdings in Cantaloupe by 8,886.0% during the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company’s stock valued at $35,000 after purchasing an additional 4,443 shares during the period. Parkside Financial Bank & Trust acquired a new position in shares of Cantaloupe in the 4th quarter valued at approximately $47,000. New York State Common Retirement Fund increased its holdings in Cantaloupe by 75.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after purchasing an additional 3,400 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Cantaloupe during the fourth quarter worth $77,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Company Profile

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.