Onespan (OSPN) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Onespan (NASDAQ:OSPN) from a hold rating to a strong-buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $20.00 target price on the stock.

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. “

Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Onespan from a c rating to a b- rating in a report on Monday, March 18th. ValuEngine cut shares of Onespan from a strong-buy rating to a buy rating in a report on Thursday, April 4th. Finally, National Securities started coverage on shares of Onespan in a report on Thursday, January 3rd. They set a buy rating on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Onespan has a consensus rating of Buy and an average price target of $19.50.

Shares of NASDAQ OSPN opened at $19.26 on Thursday. The stock has a market cap of $774.46 million, a PE ratio of 53.50, a price-to-earnings-growth ratio of 4.28 and a beta of 2.07. Onespan has a 1 year low of $11.41 and a 1 year high of $25.45.

Onespan (NASDAQ:OSPN) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. Onespan had a net margin of 1.81% and a return on equity of 6.72%. The firm had revenue of $64.80 million during the quarter, compared to analysts’ expectations of $59.94 million. Onespan’s quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts anticipate that Onespan will post 0.45 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP purchased a new position in Onespan during the fourth quarter worth about $73,000. Municipal Employees Retirement System of Michigan purchased a new position in Onespan during the fourth quarter worth about $116,000. Metropolitan Life Insurance Co. NY boosted its holdings in Onespan by 294.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,139 shares of the company’s stock worth $144,000 after purchasing an additional 8,317 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new position in Onespan during the fourth quarter worth about $155,000. Finally, Texas Permanent School Fund boosted its holdings in Onespan by 4.1% during the fourth quarter. Texas Permanent School Fund now owns 20,548 shares of the company’s stock worth $266,000 after purchasing an additional 806 shares during the last quarter. Institutional investors and hedge funds own 66.24% 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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