Zacks Investment Research Upgrades Onespan (NASDAQ:OSPN) to Hold

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Zacks Investment Research upgraded shares of Onespan (NASDAQ:OSPN) from a strong sell rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “OneSpan Inc. provides software services. The Company designs and develops security software and e-signature solutions which protects devices and financial transactions from fraud and misuse. It delivers risk analytics, mobile security and authentication services. OneSpan Inc., formerly known as Vasco Data Sec, is based in Chicago, United States. “

A number of other analysts have also recently commented on OSPN. B. Riley set a $23.00 price target on shares of Pretium Resources and gave the company a buy rating in a research note on Tuesday, June 25th. Wedbush set a $12.00 price target on shares of GameStop and gave the company a buy rating in a research note on Friday, May 31st. TheStreet cut shares of Tesla from a c- rating to a d+ rating in a research note on Monday, April 29th. Finally, ValuEngine cut shares of Valero Energy from a hold rating to a sell rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Onespan presently has a consensus rating of Buy and a consensus target price of $19.50.

Shares of OSPN stock opened at $15.18 on Wednesday. The stock has a market cap of $610.46 million, a PE ratio of 66.00, a P/E/G ratio of 3.87 and a beta of 2.05. The company has a quick ratio of 2.34, a current ratio of 2.55 and a debt-to-equity ratio of 0.03. The company’s 50 day simple moving average is $14.03. Onespan has a 12 month low of $11.41 and a 12 month high of $21.61.

Onespan (NASDAQ:OSPN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.16). The business had revenue of $47.61 million for the quarter, compared to analysts’ expectations of $48.48 million. Onespan had a negative net margin of 1.69% and a positive return on equity of 3.73%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, sell-side analysts anticipate that Onespan will post 0.39 EPS for the current fiscal year.

In other news, insider Scott Clements bought 3,550 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $14.14 per share, with a total value of $50,197.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director T Kendall Hunt sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $14.33, for a total transaction of $487,220.00. The disclosure for this sale can be found here. Corporate insiders own 19.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of Onespan by 21.2% in the 4th quarter. Rhumbline Advisers now owns 89,749 shares of the company’s stock worth $1,162,000 after purchasing an additional 15,691 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Onespan during the 4th quarter valued at $155,000. BlackRock Inc. raised its stake in Onespan by 3.5% during the 4th quarter. BlackRock Inc. now owns 4,730,397 shares of the company’s stock valued at $61,258,000 after acquiring an additional 161,916 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Onespan by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 405,013 shares of the company’s stock valued at $5,245,000 after acquiring an additional 7,674 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in Onespan by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 20,548 shares of the company’s stock valued at $266,000 after acquiring an additional 806 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

About Onespan

OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.

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