Cantaloupe’s Promising Growth and Strategic Expansion Justifies Buy Rating

William Blair analyst Christopher Kennedy has maintained their bullish stance on CTLP stock, giving a Buy rating on June 2.

Christopher Kennedy has given his Buy rating due to a combination of factors that highlight Cantaloupe’s promising growth potential. The company’s management has expressed confidence in achieving its fiscal 2025 targets, supported by a significant increase in the total addressable market (TAM) to $18.3 billion, which is driven by trends such as the shift towards cashless payments and the demand for frictionless self-service commerce.
Additionally, Cantaloupe has expanded its focus beyond traditional cashless payment categories through innovation and acquisitions, now offering comprehensive solutions for self-service commerce across various verticals. The company is experiencing substantial growth in newer verticals, which is reflected in the increased volume per device. This growth trajectory, combined with the company’s strategic positioning in a rapidly expanding market, underpins Kennedy’s positive outlook and Buy rating.