Onespan (NASDAQ:OSPN) Downgraded to Hold at Zacks Investment Research

Onespan (NASDAQ:OSPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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. “

Several other research analysts also recently commented on OSPN. ValuEngine downgraded Onespan from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. TheStreet upgraded Onespan from a “c-” rating to a “b-” rating in a research note on Tuesday, October 29th. National Securities reiterated a “buy” rating and set a $23.00 target price on shares of Onespan in a research note on Friday, July 26th. Finally, Wedbush reiterated a “hold” rating and set a $17.00 target price on shares of Onespan in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Onespan has an average rating of “Buy” and an average target price of $20.50.

NASDAQ:OSPN opened at $18.27 on Wednesday. The firm has a market capitalization of $763.83 million, a price-to-earnings ratio of 50.75, a price-to-earnings-growth ratio of 3.58 and a beta of 2.21. Onespan has a twelve month low of $11.41 and a twelve month high of $21.61. The stock’s 50 day moving average price is $15.92 and its two-hundred day moving average price is $14.99. The company has a quick ratio of 2.50, a current ratio of 2.77 and a debt-to-equity ratio of 0.04.

Onespan (NASDAQ:OSPN) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.21. Onespan had a return on equity of 7.54% and a net margin of 3.10%. The firm had revenue of $79.73 million for the quarter, compared to analyst estimates of $63.12 million. During the same quarter in the previous year, the firm earned $0.04 EPS. The business’s quarterly revenue was up 51.9% on a year-over-year basis. As a group, analysts anticipate that Onespan will post 0.53 earnings per share for the current year.

In other news, Director T Kendall Hunt sold 365,000 shares of Onespan stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $19.66, for a total transaction of $7,175,900.00. Insiders own 19.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC boosted its stake in Onespan by 121.1% in the 2nd quarter. Ancora Advisors LLC now owns 1,042,282 shares of the company’s stock valued at $14,769,000 after purchasing an additional 570,944 shares during the period. Legion Partners Asset Management LLC boosted its stake in Onespan by 15.7% in the 2nd quarter. Legion Partners Asset Management LLC now owns 2,416,883 shares of the company’s stock valued at $34,247,000 after purchasing an additional 327,622 shares during the period. Heartland Advisors Inc. bought a new stake in Onespan in the 2nd quarter valued at $3,999,000. Russell Investments Group Ltd. bought a new stake in Onespan in the 3rd quarter valued at $3,981,000. Finally, BlackRock Inc. boosted its stake in Onespan by 3.7% in the 2nd quarter. BlackRock Inc. now owns 4,827,802 shares of the company’s stock valued at $68,410,000 after purchasing an additional 174,059 shares during the period. Institutional investors own 68.57% of the company’s stock.

Onespan Company Profile

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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