Rosenblatt Securities Forecasts Strong Price Appreciation for OneSpan (NASDAQ:OSPN) Stock

OneSpan (NASDAQ:OSPN) had its price objective lifted by stock analysts at Rosenblatt Securities from $18.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 21.82% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. Sidoti raised 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, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.63.

OneSpan Stock Down 5.6 %

NASDAQ OSPN opened at $18.06 on Monday. OneSpan has a 12-month low of $9.22 and a 12-month high of $19.28. The firm’s 50 day moving average is $16.83 and its 200-day moving average is $15.23. The company has a market capitalization of $686.10 million, a PE ratio of 24.41 and a beta of 0.77.

Insider Buying and Selling

In related news, Director Michael J. Mcconnell sold 53,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.51, for a total value of $981,030.00. Following the completion of the transaction, the director now owns 20,849 shares of the company’s stock, valued at $385,914.99. The trade was a 71.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On OneSpan

Several hedge funds have recently bought and sold shares of the company. CWM LLC raised its position in OneSpan by 872.1% during the second quarter. CWM LLC now owns 6,241 shares of the company’s stock valued at $80,000 after purchasing an additional 5,599 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of OneSpan in the 2nd quarter valued at $405,000. Assenagon Asset Management S.A. increased its holdings in OneSpan by 293.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 158,326 shares of the company’s stock worth $2,030,000 after purchasing an additional 118,061 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in OneSpan by 14.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,560 shares of the company’s stock worth $1,481,000 after purchasing an additional 14,984 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in OneSpan in the second quarter valued at about $300,000. 95.52% of the stock is owned by 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.