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Cantaloupe (CTLP) Surges 8.9%: Is This an Indication of Further Gains?
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Cantaloupe (CTLP - Free Report) shares rallied 8.9% in the last trading session to close at $5.25. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23% gain over the past four weeks.
The upside can be attributed to the strength possessed by the end-to-end technology solutions suite of Cantaloupe that eases the acceptance of digital payments and simplifies business operations for customers in the unattended retail market. A surge in demand for digital payment systems, a long-lasting trend inflicted by the COVID-19 pandemic, coupled with consumers’ growing inclination to adopt digital means are expected to sustain investors’ confidence in CTLP’s technology solutions.
This electronic payment and wireless networking company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $58.95 million, up 15.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cantaloupe, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CTLP going forward to see if this recent jump can turn into more strength down the road.
Cantaloupe is part of the Zacks Financial Transaction Services industry. Remitly Global, Inc. (RELY - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $12.08. RELY has returned 31.7% in the past month.
Remitly Global, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. Compared to the company's year-ago EPS, this represents a change of -110%. Remitly Global, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Cantaloupe (CTLP) Surges 8.9%: Is This an Indication of Further Gains?
Cantaloupe (CTLP - Free Report) shares rallied 8.9% in the last trading session to close at $5.25. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23% gain over the past four weeks.
The upside can be attributed to the strength possessed by the end-to-end technology solutions suite of Cantaloupe that eases the acceptance of digital payments and simplifies business operations for customers in the unattended retail market. A surge in demand for digital payment systems, a long-lasting trend inflicted by the COVID-19 pandemic, coupled with consumers’ growing inclination to adopt digital means are expected to sustain investors’ confidence in CTLP’s technology solutions.
This electronic payment and wireless networking company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $58.95 million, up 15.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cantaloupe, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CTLP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cantaloupe is part of the Zacks Financial Transaction Services industry. Remitly Global, Inc. (RELY - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $12.08. RELY has returned 31.7% in the past month.
Remitly Global, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.21. Compared to the company's year-ago EPS, this represents a change of -110%. Remitly Global, Inc. currently boasts a Zacks Rank of #3 (Hold).