OneSpan (NASDAQ:OSPN) Upgraded by StockNews.com to “Strong-Buy” Rating

OneSpan (NASDAQ:OSPN) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

OSPN has been the topic of several other reports. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of OneSpan in a research report on Monday, October 28th. Sidoti upgraded OneSpan from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $19.00 in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $17.13.

OneSpan Price Performance

Shares of NASDAQ OSPN opened at $16.55 on Monday. The company’s 50 day simple moving average is $15.51 and its 200 day simple moving average is $14.02. OneSpan has a fifty-two week low of $8.06 and a fifty-two week high of $17.73. The firm has a market capitalization of $628.73 million, a P/E ratio of 22.36 and a beta of 0.75.

Hedge Funds Weigh In On OneSpan

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

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.