OneSpan (NASDAQ:OSPN) Issues Earnings Results

OneSpan (NASDAQ:OSPNGet Rating) issued its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.05, MarketWatch Earnings reports. OneSpan had a negative return on equity of 10.97% and a negative net margin of 14.26%. The company had revenue of $52.45 million during the quarter, compared to analysts’ expectations of $51.99 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis.

Shares of OSPN stock opened at $13.63 on Wednesday. The business’s fifty day simple moving average is $14.10. OneSpan has a 1-year low of $11.93 and a 1-year high of $27.30. The firm has a market capitalization of $545.20 million, a price-to-earnings ratio of -17.70 and a beta of 0.61.

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in OneSpan by 21.7% during the third quarter. Royal Bank of Canada now owns 3,023 shares of the company’s stock worth $56,000 after acquiring an additional 539 shares during the period. California State Teachers Retirement System grew its holdings in OneSpan by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 46,202 shares of the company’s stock worth $782,000 after acquiring an additional 615 shares during the period. SkyView Investment Advisors LLC acquired a new stake in OneSpan in the fourth quarter valued at $278,000. Geode Capital Management LLC grew its holdings in OneSpan by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 587,750 shares of the company’s stock valued at $9,950,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in OneSpan by 6.8% in the fourth quarter. Wells Fargo & Company MN now owns 67,254 shares of the company’s stock valued at $1,139,000 after purchasing an additional 4,305 shares during the last quarter. 89.50% of the stock is currently owned by hedge funds and other institutional investors.

OSPN has been the subject of several analyst reports. StockNews.com initiated coverage on OneSpan in a research note on Thursday, March 31st. They set a “hold” rating for the company. DA Davidson cut their price target on OneSpan from $32.00 to $23.00 in a research note on Wednesday, February 23rd. Craig Hallum initiated coverage on OneSpan in a research note on Wednesday, February 2nd. They set a “buy” rating and a $28.00 price target for the company. Finally, Zacks Investment Research upgraded OneSpan from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.00.

About OneSpan (Get Rating)

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity 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 signing, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.

See Also

Earnings History for OneSpan (NASDAQ:OSPN)

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