Onespan (NASDAQ:OSPN) Reaches New 12-Month High Following Earnings Beat

Key Points

• OneSpan shares reached a new 52-week high after the company reported quarterly EPS of $0.35, beating estimates by $0.11, while revenue of $63.89 million exceeded expectations of $57.43 million.
• The company declared a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 2.0% yield, with a payout ratio of 29.21%.
• Analyst sentiment remains mixed: OneSpan has a consensus “Hold” rating and an average price target of $17, despite recent institutional buying and the stock’s sharp rise.

Onespan Inc (NASDAQ:OSPN - Get Free Report)'s share price hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $24.69 and last traded at $24.86, with a volume of 23,519 shares traded. The stock had previously closed at $20.15.

The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. The company had revenue of $63.89 million for the quarter, compared to analysts' expectations of $57.43 million. Onespan had a return on equity of 16.91% and a net margin of 27.76%.

Onespan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 14th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.52 annualized dividend and a dividend yield of 2.0%. Onespan's payout ratio is currently 29.21%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OSPN shares. DA Davidson raised their price target on shares of Onespan from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings raised Onespan from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, September 14th. Finally, Rosenblatt Securities cut shares of Onespan from a "buy" rating to a "neutral" rating and set a $18.00 target price for the company. in a research report on Tuesday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Onespan has a consensus rating of "Hold" and an average target price of $17.00.

Institutional Investors Weigh In On Onespan

Several large investors have recently made changes to their positions in OSPN. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Onespan during the 3rd quarter valued at $333,000. Signaturefd LLC lifted its stake in Onespan by 224.8% in the third quarter. Signaturefd LLC now owns 8,874 shares of the company's stock valued at $159,000 after acquiring an additional 6,142 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new position in Onespan in the 3rd quarter valued at about $403,000. Vest Financial LLC acquired a new position in shares of Onespan during the 3rd quarter worth approximately $189,000. Finally, Range Financial Group LLC acquired a new position in Onespan in the third quarter valued at about $2,008,000. Institutional investors own 95.52% of the company's stock.

Onespan Stock Up 30.7%

The firm has a 50 day simple moving average of $17.61 and a two-hundred day simple moving average of $14.00. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $970.76 million, a P/E ratio of 14.15, a PEG ratio of 1.74 and a beta of 1.59.

About Onespan

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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