Zacks Research Downgrades Onespan (NASDAQ:OSPN) to Strong Sell

Onespan (NASDAQ:OSPN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Onespan in a report on Monday, December 29th. Wall Street Zen downgraded shares of Onespan from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, DA Davidson cut their target price on Onespan from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Onespan currently has an average rating of “Hold” and an average target price of $16.67.

Onespan Stock Performance

Shares of OSPN traded up $0.39 during mid-day trading on Tuesday, hitting $10.92. 591,600 shares of the company were exchanged, compared to its average volume of 653,071. The stock has a market cap of $409.14 million, a price-to-earnings ratio of 5.81, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. Onespan has a 1-year low of $10.16 and a 1-year high of $18.13. The company has a 50 day moving average of $11.82 and a 200-day moving average of $13.33.

Onespan (NASDAQ:OSPN) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $62.92 million during the quarter, compared to the consensus estimate of $59.78 million. Onespan had a return on equity of 19.58% and a net margin of 29.98%. Research analysts anticipate that Onespan will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onespan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in Onespan by 1,018.8% during the 4th quarter. Millennium Management LLC now owns 1,211,659 shares of the company’s stock valued at $15,558,000 after purchasing an additional 1,103,360 shares in the last quarter. Simcoe Capital Management LLC grew its position in shares of Onespan by 167.5% during the third quarter. Simcoe Capital Management LLC now owns 1,193,858 shares of the company’s stock worth $18,970,000 after buying an additional 747,578 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Onespan by 25.1% in the third quarter. First Trust Advisors LP now owns 2,141,141 shares of the company’s stock worth $34,023,000 after buying an additional 428,983 shares during the last quarter. Topline Capital Management LLC bought a new position in Onespan during the 3rd quarter valued at $5,549,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Onespan by 97.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 649,202 shares of the company’s stock valued at $8,336,000 after acquiring an additional 320,000 shares during the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Onespan Company Profile

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.