Craig Hallum Boosts OneSpan (NASDAQ:OSPN) Price Target to $17.00

OneSpan (NASDAQ:OSPN) had its target price increased by stock analysts at Craig Hallum from $15.00 to $17.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective indicates a potential upside of 37.21% from the stock’s current price.

Several other research analysts also recently issued reports on OSPN. StockNews.com downgraded shares of OneSpan from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Sidoti downgraded shares of OneSpan from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.83.

OneSpan Price Performance

OSPN stock traded up $1.44 during mid-day trading on Friday, hitting $12.39. 1,797,452 shares of the stock were exchanged, compared to its average volume of 389,862. The stock has a market capitalization of $468.96 million, a price-to-earnings ratio of -16.72 and a beta of 0.82. OneSpan has a 12 month low of $7.64 and a 12 month high of $17.20. The business has a fifty day moving average price of $10.58 and a 200 day moving average price of $10.17.

OneSpan (NASDAQ:OSPN) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. The business had revenue of $62.93 million during the quarter. OneSpan had a negative return on equity of 6.43% and a negative net margin of 12.68%. As a group, equities analysts forecast that OneSpan will post 0.71 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael J. Mcconnell bought 5,000 shares of OneSpan stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $9.83 per share, with a total value of $49,150.00. Following the completion of the purchase, the director now owns 73,849 shares in the company, valued at approximately $725,935.67. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Institutional Trading of OneSpan

Hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC boosted its holdings in OneSpan by 15,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,520 shares of the company’s stock worth $38,000 after acquiring an additional 3,498 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in OneSpan by 64.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,180 shares of the company’s stock worth $56,000 after purchasing an additional 2,027 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of OneSpan in the fourth quarter worth $95,000. SG Americas Securities LLC acquired a new stake in shares of OneSpan during the fourth quarter worth $112,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of OneSpan by 100.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,126 shares of the company’s stock worth $129,000 after buying an additional 5,578 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

OneSpan Company Profile

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.