Rosenblatt Securities Has Lowered Expectations for Onespan (NASDAQ:OSPN) Stock Price

Onespan (NASDAQ:OSPN) had its price objective dropped by analysts at Rosenblatt Securities from $17.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 31.58% from the stock’s current price.

OSPN has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Onespan in a report on Wednesday, October 8th. Wall Street Zen raised Onespan from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, B. Riley started coverage on Onespan in a report on Tuesday, August 26th. They issued a “buy” rating and a $23.00 price target for the company. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Onespan Stock Down 26.5%

Onespan stock opened at $11.40 on Friday. Onespan has a 52 week low of $11.00 and a 52 week high of $20.36. The company has a market capitalization of $436.91 million, a price-to-earnings ratio of 7.55 and a beta of 1.32. The stock has a 50-day moving average price of $15.44 and a 200 day moving average price of $15.45.

Insider Activity at Onespan

In other Onespan news, Director Marc Zenner bought 2,200 shares of Onespan stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $12.80 per share, with a total value of $28,160.00. Following the purchase, the director directly owned 71,273 shares in the company, valued at $912,294.40. This represents a 3.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Garry L. Capers bought 2,000 shares of Onespan stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $13.07 per share, with a total value of $26,140.00. Following the completion of the purchase, the director owned 36,894 shares in the company, valued at approximately $482,204.58. This trade represents a 5.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Onespan

Several large investors have recently made changes to their positions in OSPN. State of Alaska Department of Revenue purchased a new stake in shares of Onespan during the third quarter worth approximately $26,000. Comerica Bank grew its holdings in Onespan by 455.2% in the 1st quarter. Comerica Bank now owns 2,465 shares of the company’s stock valued at $38,000 after buying an additional 2,021 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Onespan by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 4,920 shares of the company’s stock valued at $82,000 after buying an additional 692 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Onespan by 289.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,133 shares of the company’s stock valued at $86,000 after buying an additional 3,816 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Onespan by 14.6% during the 1st quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company’s stock worth $94,000 after purchasing an additional 783 shares during the period. 95.52% of the stock is currently 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.