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

Wall Street brokerages predict that Cantaloupe, Inc. (NASDAQ:CTLP) will post sales of $46.19 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cantaloupe’s earnings, with estimates ranging from $44.21 million to $47.20 million. Cantaloupe reported sales of $36.88 million during the same quarter last year, which suggests a positive year over year growth rate of 25.2%. The company is expected to issue its next earnings report on Thursday, November 4th.

On average, analysts expect that Cantaloupe will report full-year sales of $200.79 million for the current financial year, with estimates ranging from $200.14 million to $202.10 million. For the next financial year, analysts forecast that the firm will post sales of $225.13 million, with estimates ranging from $209.99 million to $235.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Cantaloupe.

Cantaloupe (NASDAQ:CTLP) last posted its earnings results on Wednesday, September 1st. The technology company reported $0.04 earnings per share 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%.

Several analysts recently issued reports on CTLP shares. Barrington Research started coverage on Cantaloupe in a research note on Friday, September 3rd. They issued a “buy” rating and a $15.00 price target for the company. Northland Securities boosted their price target on Cantaloupe from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, June 15th. Zacks Investment Research downgraded Cantaloupe from a “hold” rating to a “sell” rating in a research note on Friday, July 2nd. Finally, Lake Street Capital boosted their price target on Cantaloupe from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, September 3rd. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.00.

Several large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Cantaloupe during the 2nd quarter valued at $30,000. Kistler Tiffany Companies LLC acquired a new position in shares of Cantaloupe during the 2nd quarter worth $32,000. JPMorgan Chase & Co. acquired a new position in shares of Cantaloupe during the 4th quarter worth $40,000. Citigroup Inc. acquired a new position in shares of Cantaloupe during the 2nd quarter worth $46,000. Finally, Clearstead Advisors LLC acquired a new position in shares of Cantaloupe during the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.

CTLP traded down $0.18 during trading on Tuesday, hitting $9.92. The stock had a trading volume of 667,000 shares, compared to its average volume of 302,581. The company has a 50 day moving average price of $10.14 and a 200-day moving average price of $10.88. The firm has a market cap of $706.88 million, a price-to-earnings ratio of -70.85 and a beta of 2.12. Cantaloupe has a one year low of $7.75 and a one year high of $12.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.00 and a quick ratio of 1.92.

About Cantaloupe

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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