OneSpan (NASDAQ:OSPN) Hits New 12-Month High – Still a Buy?

OneSpan Inc. (NASDAQ:OSPN)’s stock price reached a new 52-week high on Thursday . The company traded as high as $17.38 and last traded at $17.08, with a volume of 44177 shares. The stock had previously closed at $14.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OSPN shares. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of OneSpan in a report on Monday. Sidoti raised shares of OneSpan from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $19.00 in a research report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.13.

OneSpan Trading Up 13.9 %

The company has a market cap of $627.49 million, a P/E ratio of -93.72 and a beta of 0.76. The business has a 50 day moving average price of $15.50 and a 200-day moving average price of $13.84.

OneSpan (NASDAQ:OSPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.08. OneSpan had a net margin of 6.60% and a return on equity of 18.69%. The firm had revenue of $60.92 million for the quarter. During the same period last year, the company posted ($0.27) earnings per share. On average, sell-side analysts expect that OneSpan Inc. will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On OneSpan

Several hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in OneSpan by 1,038.5% in the second quarter. Acadian Asset Management LLC now owns 324,217 shares of the company’s stock valued at $4,154,000 after buying an additional 295,739 shares during the period. AQR Capital Management LLC raised its stake in OneSpan by 242.0% in the 2nd quarter. AQR Capital Management LLC now owns 320,259 shares of the company’s stock valued at $4,106,000 after acquiring an additional 226,604 shares during the period. Vanguard Group Inc. lifted its holdings in OneSpan by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 2,794,375 shares of the company’s stock valued at $32,499,000 after purchasing an additional 219,907 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in OneSpan during the first quarter worth $2,553,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of OneSpan by 113.4% in the third quarter. Assenagon Asset Management S.A. now owns 337,823 shares of the company’s stock valued at $5,632,000 after purchasing an additional 179,497 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

About OneSpan

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.