Cantaloupe price target lowered to $11 from $13 at Craig-Hallum

Craig-Hallum analyst George Sutton lowered the firm’s price target on Cantaloupe to $11 from $13 and keeps a Buy rating on the shares after a “disappointing” Q4. To be specific, Q4’s disappointment was largely driven by a surprising slowdown in transactions, specifically in June, the firm says. Since June, business has reaccelerated and guidance for FY2025 was somewhat comforting and reflects a return to a normalized growth trajectory, Craig-Hallum adds. Despite the somewhat combative reports, the firm believes that the company’s expanded product offerings and international efforts will provide the runway for the 15%-20% S&T growth being called for in the long term.