Onespan (NASDAQ:OSPN) Rating Lowered to Neutral at Rosenblatt Securities

Key Points

• Rosenblatt Securities downgraded OneSpan from “Buy” to “Neutral” and set an $18 price target, implying 12.62% downside from the stock’s $20.60 opening price.
• Analyst sentiment is broadly cautious, with a consensus “Hold” rating and average price target of $17.00 from four analysts.
• OneSpan exceeded quarterly expectations, reporting $0.30 in EPS versus $0.23 expected and revenue of $60.47 million versus $58.25 million; institutional investors own 95.52% of the company.

Onespan (NASDAQ:OSPN - Get Free Report) was downgraded by Rosenblatt Securities from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $18.00 price target on the stock. Rosenblatt Securities's target price would indicate a potential downside of 12.62% from the stock's current price.

A number of other equities research analysts have also weighed in on OSPN. Weiss Ratings upgraded Onespan from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, September 14th. DA Davidson upped their price target on Onespan from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.00.

Onespan Trading Up 2.0%

Shares of OSPN stock opened at $20.60 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $759.15 million, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.75 and a beta of 1.59. Onespan has a 12-month low of $10.07 and a 12-month high of $20.82. The stock's 50-day moving average price is $17.34 and its 200-day moving average price is $13.90.

Onespan (NASDAQ:OSPN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. Onespan had a return on equity of 16.91% and a net margin of 27.76%. The business had revenue of $60.47 million for the quarter, compared to the consensus estimate of $58.25 million. Equities research analysts predict that Onespan will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Onespan

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Onespan during the 2nd quarter valued at approximately $59,607,000. Legal & General Group Plc acquired a new stake in Onespan during the second quarter valued at approximately $31,248,000. Dimensional Fund Advisors LP increased its holdings in shares of Onespan by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company's stock valued at $15,421,000 after buying an additional 349,648 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Onespan by 94.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company's stock valued at $13,355,000 after buying an additional 617,092 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Onespan in the 2nd quarter worth $7,272,000. Institutional investors and hedge funds own 95.52% of the company's stock.

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.

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