Rosenblatt Securities Reaffirms Buy Rating for OneSpan (NASDAQ:OSPN)

OneSpan (NASDAQ:OSPN)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a report issued on Monday, Benzinga reports. They currently have a $20.00 price target on the stock. Rosenblatt Securities’ price target indicates a potential upside of 36.05% from the company’s previous close.

OneSpan Stock Performance

Shares of OSPN stock traded up $0.12 during mid-day trading on Monday, hitting $14.70. 12,999 shares of the stock traded hands, compared to its average volume of 394,450. OneSpan has a twelve month low of $7.64 and a twelve month high of $16.68. The company’s 50-day simple moving average is $15.53 and its 200-day simple moving average is $13.78. The firm has a market cap of $556.69 million, a price-to-earnings ratio of 34.19 and a beta of 0.76.

OneSpan (NASDAQ:OSPN) last released its earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. OneSpan had a return on equity of 18.69% and a net margin of 6.60%. The firm had revenue of $60.92 million for the quarter. During the same period in the previous year, the firm earned ($0.27) earnings per share. Analysts forecast that OneSpan will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of OneSpan by 860.4% during the 2nd 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 boosted 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 purchasing an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in OneSpan in the 2nd quarter worth about $41,000. Point72 Asset Management L.P. acquired a new stake in OneSpan during the 2nd quarter worth about $74,000. Finally, CWM LLC lifted its stake in OneSpan by 872.1% during the second quarter. CWM LLC now owns 6,241 shares of the company’s stock valued at $80,000 after buying an additional 5,599 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.