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

Zacks Investment Research upgraded shares of Onespan (NASDAQ:OSPN) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning, 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 brokerages have also recently issued reports on OSPN. TheStreet cut Tesla from a c- rating to a d+ rating in a report on Monday, April 29th. B. Riley set a $23.00 target price on Pretium Resources and gave the stock a buy rating in a report on Tuesday, June 25th. ValuEngine downgraded Valero Energy from a hold rating to a sell rating in a report on Wednesday, May 8th. Finally, Wedbush set a $12.00 price target on GameStop and gave the company a buy rating in a report on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Onespan has a consensus rating of Buy and a consensus target price of $19.50.

Shares of NASDAQ OSPN opened at $15.18 on Wednesday. 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 firm has a market cap of $610.46 million, a PE ratio of 66.00, a price-to-earnings-growth ratio of 3.87 and a beta of 2.05. The stock has a fifty day moving average of $14.03. Onespan has a 52-week low of $11.41 and a 52-week high of $21.61.

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

In other Onespan news, insider Scott Clements purchased 3,500 shares of the stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $14.25 per share, for a total transaction of $49,875.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director T Kendall Hunt sold 34,000 shares of Onespan stock in a transaction on Monday, June 10th. The shares were sold at an average price of $14.33, for a total value of $487,220.00. The disclosure for this sale can be found here. Insiders own 19.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Onespan by 3.5% during the fourth quarter. BlackRock Inc. now owns 4,730,397 shares of the company’s stock valued at $61,258,000 after buying an additional 161,916 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Onespan by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,522,093 shares of the company’s stock valued at $19,711,000 after buying an additional 15,311 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Onespan by 436.3% during the fourth quarter. Ancora Advisors LLC now owns 695,588 shares of the company’s stock valued at $9,008,000 after buying an additional 565,896 shares in the last quarter. FMR LLC acquired a new stake in Onespan during the fourth quarter valued at $6,108,000. Finally, Bank of New York Mellon Corp boosted its position in Onespan by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 405,013 shares of the company’s stock valued at $5,245,000 after purchasing an additional 7,674 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

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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