Onespan (NASDAQ:OSPN) Downgraded by Wall Street Zen to Hold

Onespan (NASDAQ:OSPN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other analysts have also recently weighed in on the stock. Rosenblatt Securities lowered their price target on shares of Onespan from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, October 31st. DA Davidson decreased their target price on shares of Onespan from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Onespan in a report on Monday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Onespan Price Performance

Onespan stock opened at $12.29 on Friday. The stock has a market cap of $467.35 million, a price-to-earnings ratio of 8.36 and a beta of 1.51. The firm has a 50-day moving average of $12.74 and a two-hundred day moving average of $14.47. Onespan has a 1 year low of $11.00 and a 1 year high of $20.36.

Onespan (NASDAQ:OSPN) last issued its earnings results on Thursday, October 30th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $57.06 million during the quarter, compared to analysts’ expectations of $58.18 million. Onespan had a return on equity of 18.41% and a net margin of 24.08%. Research analysts expect that Onespan will post 1.11 earnings per share for the current year.

Insider Activity at Onespan

In other news, Director Michael J. Mcconnell bought 50,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was purchased at an average cost of $11.96 per share, with a total value of $598,000.00. Following the acquisition, the director directly owned 83,763 shares in the company, valued at $1,001,805.48. This trade represents a 148.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Onespan during the 3rd quarter worth about $26,000. Comerica Bank boosted its position in Onespan by 455.2% during the first quarter. Comerica Bank now owns 2,465 shares of the company’s stock worth $38,000 after purchasing an additional 2,021 shares in the last quarter. Copeland Capital Management LLC boosted its position in Onespan by 16.4% during the second quarter. Copeland Capital Management LLC now owns 4,920 shares of the company’s stock worth $82,000 after purchasing an additional 692 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Onespan by 289.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,133 shares of the company’s stock valued at $86,000 after purchasing an additional 3,816 shares during the period. Finally, Connors Investor Services Inc. acquired a new position in shares of Onespan during the 3rd quarter worth approximately $182,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

Onespan Company Profile

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.