OneSpan (NASDAQ:OSPN) Rating Increased to Buy at Sidoti

OneSpan (NASDAQ:OSPN) was upgraded by equities research analysts at Sidoti from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a $19.00 price target on the stock, up from their prior price target of $14.00. Sidoti’s price target would indicate a potential upside of 30.49% from the stock’s current price.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of OneSpan in a research note on Monday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, OneSpan presently has an average rating of “Moderate Buy” and a consensus target price of $17.13.

OneSpan Price Performance

Shares of OSPN opened at $14.56 on Thursday. OneSpan has a 1-year low of $7.72 and a 1-year high of $16.68. The company has a market capitalization of $551.04 million, a P/E ratio of -80.89 and a beta of 0.76. The firm’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $13.84.

OneSpan (NASDAQ:OSPN) last released its earnings results on Thursday, August 1st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. OneSpan had a return on equity of 18.69% and a net margin of 6.60%. The business had revenue of $60.92 million for the quarter. During the same period in the prior year, the company earned ($0.27) EPS. On average, equities analysts anticipate that OneSpan will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP grew its stake in OneSpan by 860.4% in 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 period. Quest Partners LLC grew its position in shares of OneSpan by 2,952.6% in the 2nd quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after buying an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of OneSpan in the 2nd quarter worth about $41,000. Point72 Asset Management L.P. purchased a new position in OneSpan during the 2nd quarter valued at about $74,000. Finally, CWM LLC boosted its stake in OneSpan by 872.1% during the second quarter. CWM LLC now owns 6,241 shares of the company’s stock worth $80,000 after acquiring an additional 5,599 shares in the last quarter. Institutional investors own 95.52% of the company’s stock.

About OneSpan

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.