Onespan (NASDAQ:OSPN) Cut to Neutral at Rosenblatt Securities

Onespan (NASDAQ:OSPN) was downgraded by equities researchers at Rosenblatt Securities from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $18.00 target price on the stock. Rosenblatt Securities‘s target price indicates a potential downside of 11.59% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. DA Davidson increased their price objective on Onespan from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Onespan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $17.00.

Onespan Stock Performance

Shares of Onespan stock traded down $0.24 during trading on Tuesday, reaching $20.36. The company’s stock had a trading volume of 862,779 shares, compared to its average volume of 553,572. The company has a 50-day moving average price of $17.34 and a two-hundred day moving average price of $13.90. Onespan has a fifty-two week low of $10.07 and a fifty-two week high of $20.82. The firm has a market cap of $750.31 million, a PE ratio of 11.44, a P/E/G ratio of 1.75 and a beta of 1.59. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02.

Onespan (NASDAQ:OSPN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $60.47 million during the quarter, compared to analysts’ expectations of $58.25 million. Onespan had a net margin of 27.76% and a return on equity of 16.91%. On average, analysts forecast that Onespan will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Onespan

A number of institutional investors have recently added to or reduced their stakes in OSPN. BlackRock Inc. purchased a new position in shares of Onespan during the 2nd quarter worth approximately $59,607,000. Legal & General Group Plc purchased a new stake in shares of Onespan in the second quarter valued at approximately $31,248,000. Dimensional Fund Advisors LP grew its holdings in Onespan by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company’s stock worth $15,421,000 after acquiring an additional 349,648 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Onespan by 94.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company’s stock worth $13,355,000 after acquiring an additional 617,092 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Onespan in the second quarter worth $7,272,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Onespan Company Profile

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.