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Cantaloupe (CTLP) Moves 6.2% Higher: Will This Strength Last?
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Cantaloupe (CTLP - Free Report) shares soared 6.2% in the last trading session to close at $6.64. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.5% loss over the past four weeks.
The upside can be attributed to the strength of Cantaloupe's vertically integrated solutions suite, which provides digital payment processing, loyalty programs and inventory management services. It boasts a diversified customer base across North America, Latin America, Europe and Australia. A booming digital era may sustain the solid demand for CTLP’s technology platform in the days ahead. The stock also received a favorable rating from InvestorsObserver on Oct 2, 2023.
This electronic payment and wireless networking company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +115.4%. Revenues are expected to be $64.23 million, up 11.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cantaloupe, the consensus EPS estimate for the quarter has been revised 41.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, Expensify, Inc. (EXFY - Free Report) , finished the last trading session 0.3% higher at $3.26. EXFY has returned -26.5% over the past month.
Expensify, Inc.'s consensus EPS estimate for the upcoming report has changed -5.9% over the past month to $0.03. Compared to the company's year-ago EPS, this represents a change of -57.1%. Expensify, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Cantaloupe (CTLP) Moves 6.2% Higher: Will This Strength Last?
Cantaloupe (CTLP - Free Report) shares soared 6.2% in the last trading session to close at $6.64. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.5% loss over the past four weeks.
The upside can be attributed to the strength of Cantaloupe's vertically integrated solutions suite, which provides digital payment processing, loyalty programs and inventory management services. It boasts a diversified customer base across North America, Latin America, Europe and Australia. A booming digital era may sustain the solid demand for CTLP’s technology platform in the days ahead. The stock also received a favorable rating from InvestorsObserver on Oct 2, 2023.
This electronic payment and wireless networking company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +115.4%. Revenues are expected to be $64.23 million, up 11.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cantaloupe, the consensus EPS estimate for the quarter has been revised 41.7% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cantaloupe is a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, Expensify, Inc. (EXFY - Free Report) , finished the last trading session 0.3% higher at $3.26. EXFY has returned -26.5% over the past month.
Expensify, Inc.'s consensus EPS estimate for the upcoming report has changed -5.9% over the past month to $0.03. Compared to the company's year-ago EPS, this represents a change of -57.1%. Expensify, Inc. currently boasts a Zacks Rank of #3 (Hold).