OneSpan (NASDAQ:OSPN) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of OneSpan (NASDAQ:OSPN) from a hold rating to a buy rating in a research note published on Monday.

OSPN has been the subject of several other reports. Craig Hallum upped their price objective on OneSpan from $15.00 to $17.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Sidoti downgraded OneSpan from a buy rating to a neutral rating and set a $12.00 price objective on the stock. in a research note on Tuesday, April 2nd. Finally, DA Davidson lifted their price objective on OneSpan from $12.00 to $12.50 and gave the company a neutral rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, OneSpan currently has an average rating of Moderate Buy and an average price target of $13.83.

OneSpan Stock Performance

Shares of NASDAQ:OSPN opened at $12.22 on Monday. The stock’s 50-day simple moving average is $10.80 and its two-hundred day simple moving average is $10.25. The stock has a market capitalization of $462.53 million, a price-to-earnings ratio of -67.89 and a beta of 0.82. OneSpan has a 52-week low of $7.64 and a 52-week high of $17.20.

OneSpan (NASDAQ:OSPN) last issued its quarterly earnings data on Wednesday, March 6th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.17. The firm had revenue of $62.93 million for the quarter. OneSpan had a negative net margin of 3.29% and a positive return on equity of 6.13%. As a group, equities analysts forecast that OneSpan will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at OneSpan

In other news, Director Michael J. Mcconnell purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $9.83 per share, with a total value of $49,150.00. Following the completion of the purchase, the director now owns 73,849 shares in the company, valued at $725,935.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On OneSpan

A number of hedge funds have recently bought and sold shares of OSPN. State Board of Administration of Florida Retirement System increased its holdings in shares of OneSpan by 46.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,957 shares of the company’s stock worth $197,000 after buying an additional 5,390 shares during the last quarter. Russell Investments Group Ltd. increased its stake in OneSpan by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 222,959 shares of the company’s stock worth $2,593,000 after acquiring an additional 19,828 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in OneSpan during the first quarter valued at approximately $2,553,000. Janney Montgomery Scott LLC bought a new stake in shares of OneSpan in the 1st quarter valued at approximately $1,125,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of OneSpan by 100.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,126 shares of the company’s stock valued at $129,000 after purchasing an additional 5,578 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.