Onespan (NASDAQ:OSPN) Stock Falls 5.3% - Here's What Happened

Key Points

• OneSpan shares fell 5.3% to about $24.21 in mid-day trading, while trading volume was 63% below the average session volume.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $24.00 target price, despite B. Riley raising its target to $32 and Rosenblatt downgrading the shares to “Neutral.”
• OneSpan exceeded quarterly expectations with EPS of $0.35 versus $0.24 expected and revenue of $63.89 million versus $57.43 million forecast; it also declared a quarterly dividend of $0.13 per share.

Onespan Inc (NASDAQ:OSPN - Get Free Report)'s stock price traded down 5.3% during mid-day trading on Tuesday. The stock traded as low as $24.01 and last traded at $24.2070. 212,452 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 575,580 shares. The stock had previously closed at $25.55.

Analyst Upgrades and Downgrades

OSPN has been the topic of several analyst reports. DA Davidson increased their target price on Onespan from $16.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday. Rosenblatt Securities cut Onespan from a "buy" rating to a "neutral" rating and set a $18.00 price target for the company. in a research note on Tuesday, October 27th. B. Riley Financial increased their price target on shares of Onespan from $22.00 to $32.00 and gave the company a "buy" rating in a research report on Friday. Finally, Weiss Ratings raised shares of Onespan from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.00.

Onespan Trading Down 4.2%

The stock has a market cap of $901.61 million, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.74 and a beta of 1.59. The business has a 50-day simple moving average of $18.00 and a two-hundred day simple moving average of $14.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.33.

Onespan (NASDAQ:OSPN - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $63.89 million for the quarter, compared to the consensus estimate of $57.43 million. Onespan had a return on equity of 16.91% and a net margin of 27.76%. As a group, research analysts forecast that Onespan Inc will post 1.08 EPS for the current year.

Onespan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 13th. Onespan's payout ratio is presently 28.73%.

Hedge Funds Weigh In On Onespan

Several hedge funds have recently bought and sold shares of OSPN. Bank of America Corp DE purchased a new position in shares of Onespan in the 2nd quarter worth approximately $894,000. Y Intercept Hong Kong Ltd increased its position in shares of Onespan by 858.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 119,419 shares of the company's stock valued at $1,257,000 after acquiring an additional 106,960 shares during the last quarter. Legal & General Group Plc bought a new stake in Onespan during the second quarter worth $31,248,000. Ieq Capital LLC bought a new stake in Onespan during the second quarter worth $1,635,000. Finally, Bank of New York Mellon Corp bought a new stake in Onespan during the second quarter worth $7,272,000. 95.52% of the stock is owned by institutional investors.

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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