Onespan (NASDAQ:OSPN) Given New $18.00 Price Target at Rosenblatt Securities

Key Points

• Rosenblatt Securities raised its OneSpan price target to $18 from $16 and maintained a “buy” rating, implying 11.04% upside from the prior close.
• OneSpan reported quarterly EPS of $0.30, exceeding the $0.23 consensus estimate, while revenue of $60.47 million also topped analyst expectations of $58.25 million.
• Despite the bullish Rosenblatt call, analyst sentiment remains cautious overall: OneSpan has a consensus “hold” rating and an average price target of $17.67, with 95.52% of shares held by institutional investors.

Onespan (NASDAQ:OSPN - Get Free Report) had its price target boosted by analysts at Rosenblatt Securities from $16.00 to $18.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Rosenblatt Securities' price target suggests a potential upside of 11.04% from the company's previous close.

OSPN has been the topic of several other research reports. Zacks Research upgraded shares of Onespan from a "strong sell" rating to a "hold" rating in a report on Friday, May 1st. Wall Street Zen downgraded Onespan from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. DA Davidson reissued a "neutral" rating and issued a $12.00 price objective on shares of Onespan in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Onespan from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.67.

Onespan Stock Performance

Shares of NASDAQ:OSPN opened at $16.21 on Wednesday. The stock has a 50-day simple moving average of $14.68 and a 200-day simple moving average of $12.52. The stock has a market capitalization of $600.90 million, a P/E ratio of 8.96, a PEG ratio of 1.41 and a beta of 1.53. Onespan has a 1 year low of $10.07 and a 1 year high of $16.44.

Onespan (NASDAQ:OSPN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. Onespan had a net margin of 28.47% and a return on equity of 18.03%. The firm had revenue of $60.47 million for the quarter, compared to analyst estimates of $58.25 million. Analysts predict that Onespan will post 1.02 earnings per share for the current year.

Insider Activity at Onespan

In other news, CFO Jorge Garcia Martell sold 20,000 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $14.45, for a total transaction of $289,000.00. Following the transaction, the chief financial officer directly owned 91,018 shares of the company's stock, valued at approximately $1,315,210.10. The trade was a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Onespan

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Onespan by 81.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,000 shares of the company's stock worth $26,000 after acquiring an additional 900 shares in the last quarter. Comerica Bank raised its position in shares of Onespan by 455.2% in the 1st quarter. Comerica Bank now owns 2,465 shares of the company's stock valued at $38,000 after purchasing an additional 2,021 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Onespan during the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Onespan in the fourth quarter worth $50,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Onespan by 289.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,133 shares of the company's stock worth $86,000 after buying an additional 3,816 shares during the last quarter. 95.52% of the stock is owned by hedge funds and other institutional investors.

Onespan Company Profile

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.

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