OneSpan (NASDAQ:OSPN) Stock Rating Reaffirmed by Rosenblatt Securities

OneSpan (NASDAQ:OSPN)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a report issued on Monday, Benzinga reports. They currently have a $20.00 target price on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 34.14% from the company’s current price.

OneSpan Stock Performance

OSPN opened at $14.91 on Monday. OneSpan has a 1 year low of $7.64 and a 1 year high of $16.68. The company’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $13.84. The stock has a market capitalization of $564.28 million, a PE ratio of -82.83 and a beta of 0.76.

OneSpan (NASDAQ:OSPN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.08. The company had revenue of $60.92 million for the quarter. OneSpan had a net margin of 6.60% and a return on equity of 18.69%. During the same quarter last year, the business earned ($0.27) EPS. As a group, sell-side analysts expect that OneSpan will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OneSpan

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of OneSpan by 113.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 337,823 shares of the company’s stock valued at $5,632,000 after acquiring an additional 179,497 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in OneSpan in the 3rd quarter valued at $158,000. Ellsworth Advisors LLC acquired a new stake in OneSpan in the 3rd quarter valued at $545,000. Essex Investment Management Co. LLC raised its position in OneSpan by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 256,029 shares of the company’s stock valued at $4,268,000 after purchasing an additional 681 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of OneSpan during the third quarter worth about $880,000. 95.52% of the stock is owned by institutional investors and hedge funds.

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.