OneSpan (NASDAQ:OSPN) Reaches New 52-Week High – Here’s Why

OneSpan Inc. (NASDAQ:OSPN)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $18.00 and last traded at $18.00, with a volume of 498 shares. The stock had previously closed at $17.61.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised 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 raised their price objective for the company from $14.00 to $19.00 in a research report on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price objective on shares of OneSpan in a research note on Monday, October 28th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.13.

OneSpan Trading Down 1.5 %

The company has a market capitalization of $658.76 million, a PE ratio of 23.80 and a beta of 0.75. The business’s fifty day moving average is $15.72 and its two-hundred day moving average is $14.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in OneSpan by 100.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,126 shares of the company’s stock valued at $129,000 after acquiring an additional 5,578 shares during the period. Janney Montgomery Scott LLC purchased a new stake in OneSpan during the 1st quarter valued at $1,125,000. Russell Investments Group Ltd. boosted its stake in shares of OneSpan by 9.8% in the 1st quarter. Russell Investments Group Ltd. now owns 222,959 shares of the company’s stock worth $2,593,000 after buying an additional 19,828 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of OneSpan by 46.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,957 shares of the company’s stock worth $197,000 after acquiring an additional 5,390 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in OneSpan by 8.5% in the first quarter. Vanguard Group Inc. now owns 2,794,375 shares of the company’s stock valued at $32,499,000 after acquiring an additional 219,907 shares during the period. 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.