OneSpan (NASDAQ:OSPN) Sets New 52-Week High – Still a Buy?

OneSpan Inc. (NASDAQ:OSPN) reached a new 52-week high during trading on Friday . The company traded as high as $17.74 and last traded at $17.70, with a volume of 142109 shares trading hands. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

A number of research firms recently commented on OSPN. 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. Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $19.00 in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of OneSpan from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.13.

OneSpan Stock Performance

The business’s 50 day moving average is $15.61 and its 200 day moving average is $14.18. The stock has a market cap of $661.80 million, a price-to-earnings ratio of 23.54 and a beta of 0.75.

Hedge Funds Weigh In On OneSpan

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 buying an additional 5,578 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of OneSpan during the 1st quarter valued at $1,125,000. Russell Investments Group Ltd. raised its holdings in shares of OneSpan by 9.8% during the 1st quarter. Russell Investments Group Ltd. now owns 222,959 shares of the company’s stock valued at $2,593,000 after purchasing an additional 19,828 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of OneSpan by 46.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,957 shares of the company’s stock valued at $197,000 after purchasing an additional 5,390 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of OneSpan by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 2,794,375 shares of the company’s stock valued at $32,499,000 after purchasing an additional 219,907 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.