OneSpan (NASDAQ:OSPN) Sets New 1-Year High – Still a Buy?

OneSpan Inc. (NASDAQ:OSPN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $17.92 and last traded at $17.88, with a volume of 112314 shares changing hands. The stock had previously closed at $17.67.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com raised OneSpan from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of OneSpan in a report on Monday, October 28th. Finally, Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $19.00 in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, OneSpan has a consensus rating of “Buy” and a consensus price target of $17.13.

OneSpan Trading Up 1.2 %

The company has a 50-day moving average of $16.03 and a 200-day moving average of $14.58. The company has a market capitalization of $679.26 million, a price-to-earnings ratio of 24.16 and a beta of 0.75.

Hedge Funds Weigh In On OneSpan

Several hedge funds and other institutional investors have recently modified their holdings of OSPN. Quarry LP increased its stake in OneSpan by 860.4% during the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after purchasing an additional 1,936 shares in the last quarter. Quest Partners LLC increased 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 valued at $31,000 after acquiring an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in OneSpan in the 2nd quarter worth $41,000. Covestor Ltd acquired a new stake in OneSpan during the 3rd quarter worth about $65,000. Finally, Point72 Asset Management L.P. acquired a new stake in OneSpan during the 2nd quarter worth about $74,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.