Onespan (NASDAQ:OSPN) Reaches New 1-Year High After Earnings Beat

Onespan Inc (NASDAQ:OSPN) shares reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $24.69 and last traded at $24.86, with a volume of 23,519 shares trading hands. The stock had previously closed at $20.15.

The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Onespan had a net margin of 27.76% and a return on equity of 16.91%. The business had revenue of $63.89 million during the quarter, compared to the consensus estimate of $57.43 million.

Onespan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 14th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 14th. This represents a $0.52 annualized dividend and a dividend yield of 2.0%. Onespan’s dividend payout ratio is currently 29.21%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OSPN. Rosenblatt Securities lowered Onespan from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Tuesday. DA Davidson increased their target price on Onespan from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Onespan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Onespan during the 3rd quarter valued at about $333,000. Signaturefd LLC grew its holdings in shares of Onespan by 224.8% in the third quarter. Signaturefd LLC now owns 8,874 shares of the company’s stock valued at $159,000 after purchasing an additional 6,142 shares during the period. Carolina Wealth Advisors LLC purchased a new position in shares of Onespan during the 3rd quarter worth $403,000. Vest Financial LLC purchased a new stake in Onespan in the third quarter valued at approximately $189,000. Finally, Range Financial Group LLC purchased a new stake in Onespan during the 3rd quarter worth about $2,008,000. 95.52% of the stock is owned by institutional investors.

Onespan Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.23. The stock has a 50 day simple moving average of $17.61 and a two-hundred day simple moving average of $14.00. The company has a market capitalization of $970.76 million, a price-to-earnings ratio of 14.15, a PEG ratio of 1.74 and a beta of 1.59.

Onespan Company Profile

OneSpan Inc (NASDAQ: OSPN) provides digital identity, authentication and electronic signature solutions for organizations that need to secure online transactions and interactions. Its technology is designed to help businesses verify users, protect accounts and transactions, and meet security and compliance requirements across digital channels.

The company’s offerings include DIGIPASS authentication products, mobile and hardware authenticators, transaction-signing tools, adaptive authentication and identity verification capabilities.