OneSpan (NASDAQ:OSPN) Upgraded by Sidoti to “Buy” Rating

Sidoti upgraded shares of OneSpan (NASDAQ:OSPN) from a neutral rating to a buy rating in a research report report published on Thursday, MarketBeat reports. Sidoti currently has $19.00 price target on the stock, up from their previous price target of $14.00.

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

OneSpan Stock Performance

OSPN traded down $0.47 on Thursday, hitting $16.21. 193,603 shares of the company were exchanged, compared to its average volume of 400,256. The business’s fifty day moving average is $15.47 and its 200 day moving average is $13.85. The firm has a market capitalization of $613.87 million, a P/E ratio of 22.54 and a beta of 0.76. OneSpan has a fifty-two week low of $7.93 and a fifty-two week high of $17.73.

OneSpan (NASDAQ:OSPN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.19 by $0.08. OneSpan had a net margin of 11.73% and a return on equity of 24.13%. The business had revenue of $60.92 million for the quarter. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Analysts forecast that OneSpan will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On OneSpan

Several large investors have recently added to or reduced their stakes in OSPN. Quarry LP lifted its stake in shares of OneSpan by 860.4% in the second quarter. Quarry LP now owns 2,161 shares of the company’s stock worth $28,000 after acquiring an additional 1,936 shares in the last quarter. Quest Partners LLC grew its holdings in OneSpan by 2,952.6% during the 2nd quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after acquiring an additional 2,303 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of OneSpan in the 2nd quarter worth approximately $41,000. Point72 Asset Management L.P. bought a new position in OneSpan during the second quarter worth $74,000. Finally, CWM LLC raised its holdings in shares of OneSpan by 872.1% during the second quarter. CWM LLC now owns 6,241 shares of the company’s stock worth $80,000 after purchasing an additional 5,599 shares during the period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

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.