Onespan (NASDAQ:OSPN) Raised to Buy at Wall Street Zen

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 Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Friday.

OSPN has been the subject of several other reports. Rosenblatt Securities reduced their price objective on Onespan from $20.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. B. Riley began coverage on Onespan in a report on Tuesday, August 26th. They issued a "buy" rating and a $23.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $19.67.

Onespan Stock Performance

NASDAQ OSPN opened at $15.21 on Friday. Onespan has a one year low of $12.51 and a one year high of $20.36. The stock has a 50-day moving average of $15.10 and a 200 day moving average of $15.51. The company has a market capitalization of $583.00 million, a price-to-earnings ratio of 10.07 and a beta of 1.30.

Insider Activity

In other news, Director Marc Zenner bought 2,200 shares of the company's stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $12.80 per share, with a total value of $28,160.00. Following the completion of the transaction, the director owned 71,273 shares of the company's stock, valued at approximately $912,294.40. This trade represents a 3.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Garry L. Capers acquired 2,000 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $13.07 per share, for a total transaction 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 represents a 5.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Comerica Bank lifted its holdings in Onespan by 455.2% in the 1st quarter. Comerica Bank now owns 2,465 shares of the company's stock worth $38,000 after purchasing an additional 2,021 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Onespan in the 1st quarter worth approximately $64,000. Tower Research Capital LLC TRC lifted its holdings in Onespan by 289.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,133 shares of the company's stock worth $86,000 after purchasing an additional 3,816 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Onespan by 14.6% in the 1st quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company's stock worth $94,000 after purchasing an additional 783 shares in the last quarter. Finally, MQS Management LLC purchased a new position in Onespan in the 1st quarter worth approximately $158,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.

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