OneSpan (NASDAQ:OSPN) Upgraded to Buy at Sidoti

OneSpan (NASDAQ:OSPN) was upgraded by research analysts at Sidoti from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Briefing.com reports. The firm presently has a $19.00 target price on the stock, up from their prior target price of $14.00. Sidoti’s price objective would suggest a potential upside of 30.49% from the company’s current price.

Separately, Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of OneSpan in a research report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.13.

OneSpan Stock Down 2.3 %

Shares of OneSpan stock opened at $14.56 on Thursday. OneSpan has a 52 week low of $7.72 and a 52 week high of $16.68. The business has a 50 day moving average price of $15.50 and a 200-day moving average price of $13.84. The company has a market cap of $551.04 million, a PE ratio of -80.89 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, beating the consensus estimate of $0.19 by $0.08. OneSpan had a return on equity of 18.69% and a net margin of 6.60%. The company had revenue of $60.92 million during the quarter. During the same period in the prior year, the company earned ($0.27) earnings per share. As a group, research analysts anticipate that OneSpan will post 0.94 EPS for the current year.

Hedge Funds Weigh In On OneSpan

Large investors have recently modified their holdings of the business. Quarry LP grew its stake in OneSpan by 860.4% in the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after buying an additional 1,936 shares in the last quarter. Quest Partners LLC grew its position in shares of OneSpan by 2,952.6% in the second 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 in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of OneSpan in the second quarter valued at $41,000. Point72 Asset Management L.P. bought a new stake in shares of OneSpan during the 2nd quarter valued at $74,000. Finally, CWM LLC lifted its holdings in shares of OneSpan by 872.1% in the second quarter. CWM LLC now owns 6,241 shares of the company’s stock worth $80,000 after buying an additional 5,599 shares in the last quarter. Hedge funds and other institutional investors 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.