Analysts Set Cantaloupe, Inc. (NASDAQ:CTLP) PT at $12.73

Cantaloupe, Inc. (NASDAQ:CTLP) has received an average rating of “Reduce” from the eight analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.7333.

A number of research analysts have recently commented on the company. Zacks Research upgraded Cantaloupe from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cantaloupe in a research report on Monday.

Cantaloupe Stock Down 0.6%

Shares of CTLP stock opened at $10.56 on Wednesday. The stock has a market cap of $778.27 million, a P/E ratio of 50.29 and a beta of 1.14. The company’s fifty day simple moving average is $10.60 and its two-hundred day simple moving average is $10.74. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.14. Cantaloupe has a 52 week low of $7.01 and a 52 week high of $11.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Third Avenue Management LLC purchased a new position in shares of Cantaloupe in the 2nd quarter worth approximately $4,066,000. Farther Finance Advisors LLC boosted its stake in Cantaloupe by 62.4% during the second quarter. Farther Finance Advisors LLC now owns 7,296 shares of the technology company’s stock worth $80,000 after buying an additional 2,803 shares during the period. Hsbc Holdings PLC purchased a new position in Cantaloupe during the second quarter worth $3,795,000. Skandinaviska Enskilda Banken AB publ bought a new position in Cantaloupe during the second quarter valued at $1,543,000. Finally, Groupe la Francaise purchased a new stake in shares of Cantaloupe in the second quarter valued at $1,689,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

About Cantaloupe

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.