Wall Street Zen Upgrades Onespan (NASDAQ:OSPN) to Buy

Key Points

• Onespan (NASDAQ:OSPN) was upgraded to a "buy" rating by Wall Street Zen, indicating a positive outlook for the stock's performance.
• Rosenblatt Securities lowered its price target on Onespan from $20.00 to $17.00 while still maintaining a "buy" stance, suggesting some market adjustment for the stock's valuation.
• Insider trading activity included Director Marc Zenner buying 2,200 shares at $12.80 each, reflecting confidence in the company's future performance amid increased interest from institutional investors.

Onespan (NASDAQ:OSPN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Friday.

A number of other research firms have also recently weighed in on OSPN. B. Riley began coverage on shares of Onespan in a research note on Tuesday, August 26th. They issued a "buy" rating and a $23.00 target price on the stock. Rosenblatt Securities lowered their target price on shares of Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $19.67.

Onespan Trading Up 2.2%

OSPN traded up $0.33 during trading on Friday, hitting $15.41. The stock had a trading volume of 327,448 shares, compared to its average volume of 449,862. The firm has a market cap of $590.67 million, a PE ratio of 10.21 and a beta of 1.30. Onespan has a 12 month low of $12.51 and a 12 month high of $20.36. The company has a 50 day simple moving average of $14.96 and a 200-day simple moving average of $15.44.

Insiders Place Their Bets

In other Onespan news, Director Garry L. Capers bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $13.07 per share, with a total value of $26,140.00. Following the completion of the transaction, the director owned 36,894 shares in the company, valued at approximately $482,204.58. This trade represents a 5.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc Zenner bought 2,200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $12.80 per share, with a total value of $28,160.00. Following the transaction, the director owned 71,273 shares of the company's stock, valued at $912,294.40. This represents a 3.19% increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OSPN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Onespan by 27.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,164,294 shares of the company's stock valued at $40,129,000 after acquiring an additional 469,628 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in Onespan in the second quarter valued at $7,448,000. Ameriprise Financial Inc. lifted its stake in Onespan by 28.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,764,292 shares of the company's stock valued at $32,710,000 after acquiring an additional 395,222 shares during the last quarter. LSV Asset Management lifted its stake in Onespan by 49.3% in the second quarter. LSV Asset Management now owns 721,249 shares of the company's stock valued at $12,038,000 after acquiring an additional 238,041 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Onespan by 16.0% in the second quarter. First Trust Advisors LP now owns 1,712,158 shares of the company's stock valued at $28,576,000 after acquiring an additional 236,109 shares during the last quarter. Institutional investors own 95.52% of the company's stock.

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.