Cantaloupe, Inc. (NASDAQ:CTLP) Expected to Post Quarterly Sales of $46.19 Million

Equities analysts forecast that Cantaloupe, Inc. (NASDAQ:CTLP) will report sales of $46.19 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cantaloupe’s earnings, with the lowest sales estimate coming in at $44.21 million and the highest estimate coming in at $47.20 million. Cantaloupe posted sales of $36.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25.2%. The firm is scheduled to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Cantaloupe will report full-year sales of $200.79 million for the current fiscal year, with estimates ranging from $200.14 million to $202.10 million. For the next financial year, analysts forecast that the company will post sales of $225.13 million, with estimates ranging from $209.99 million to $235.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Cantaloupe.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings data on Wednesday, September 1st. The technology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Cantaloupe had a negative return on equity of 6.99% and a negative net margin of 5.21%.

CTLP has been the topic of a number of research reports. Barrington Research initiated coverage on Cantaloupe in a report on Friday, September 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. Northland Securities increased their price objective on Cantaloupe from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 15th. Lake Street Capital upped their target price on Cantaloupe from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Finally, Zacks Investment Research cut Cantaloupe from a “hold” rating to a “sell” rating in a research report on Friday, July 2nd. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.00.

A number of institutional investors have recently made changes to their positions in CTLP. Steward Partners Investment Advisory LLC bought a new stake in Cantaloupe during the second quarter worth approximately $30,000. Kistler Tiffany Companies LLC bought a new stake in shares of Cantaloupe in the second quarter valued at approximately $32,000. JPMorgan Chase & Co. bought a new stake in shares of Cantaloupe in the fourth quarter valued at approximately $40,000. Citigroup Inc. bought a new stake in shares of Cantaloupe in the second quarter valued at approximately $46,000. Finally, Clearstead Advisors LLC bought a new stake in shares of Cantaloupe in the second quarter valued at approximately $47,000. 72.28% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CTLP traded down $0.18 during mid-day trading on Tuesday, reaching $9.92. The stock had a trading volume of 667,000 shares, compared to its average volume of 302,581. The business’s 50 day moving average is $10.14 and its 200 day moving average is $10.88. Cantaloupe has a fifty-two week low of $7.75 and a fifty-two week high of $12.99. The stock has a market cap of $706.88 million, a P/E ratio of -70.85 and a beta of 2.12. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.00 and a quick ratio of 1.92.

Cantaloupe Company Profile

Cantaloupe, Inc engages in the provision of technology-enabled solutions and value-added services that facilitate electronic payment transactions. It offers Internet of Things (“IoT“) and machine-to-machine (“M2M“) services, which include the ability to remotely monitor, control, and report on the results of distributed assets containing the electronic payment solutions.

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Earnings History and Estimates for Cantaloupe (NASDAQ:CTLP)

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