OneSpan (NASDAQ:OSPN) Receives New Coverage from Analysts at Rosenblatt Securities

Research analysts at Rosenblatt Securities assumed coverage on shares of OneSpan (NASDAQ:OSPN) in a note issued to investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Rosenblatt Securities’ target price indicates a potential upside of 31.23% from the company’s previous close.

OneSpan Stock Performance

Shares of OSPN opened at $15.24 on Friday. The stock has a 50-day simple moving average of $14.42 and a 200-day simple moving average of $12.51. The stock has a market capitalization of $576.77 million, a PE ratio of -84.67 and a beta of 0.77. OneSpan has a 1 year low of $7.64 and a 1 year high of $16.41.

OneSpan (NASDAQ:OSPN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.08. The business had revenue of $60.92 million during the quarter. OneSpan had a return on equity of 18.69% and a net margin of 6.60%. During the same quarter in the previous year, the business posted ($0.27) EPS. Analysts predict that OneSpan will post 0.94 EPS for the current year.

Hedge Funds Weigh In On OneSpan

Several hedge funds and other institutional investors have recently made changes to their positions in OSPN. Quarry LP lifted its stake in OneSpan by 860.4% during the second quarter. Quarry LP now owns 2,161 shares of the company’s stock worth $28,000 after purchasing an additional 1,936 shares during the last quarter. Quest Partners LLC lifted its stake in OneSpan by 2,952.6% during the second quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after purchasing an additional 2,303 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in OneSpan by 15,900.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,520 shares of the company’s stock worth $38,000 after purchasing an additional 3,498 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in OneSpan during the second quarter worth approximately $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in OneSpan by 64.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,180 shares of the company’s stock worth $56,000 after purchasing an additional 2,027 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.

OneSpan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.