Shares of Onespan Inc (NASDAQ:OSPN) saw strong trading volume on Wednesday following a better than expected earnings announcement. 1,948,237 shares traded hands during mid-day trading, an increase of 700% from the previous session’s volume of 243,410 shares.The stock last traded at $19.32 and had previously closed at $16.77.
The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.10. The company had revenue of $64.80 million during the quarter, compared to the consensus estimate of $59.94 million. Onespan had a positive return on equity of 6.38% and a negative net margin of 12.85%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year.
Several analysts have recently weighed in on the company. ValuEngine upgraded Onespan from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 24th. Sidoti assumed coverage on Onespan in a research note on Monday, December 3rd. They set a “buy” rating for the company. Imperial Capital upgraded Onespan from an “in-line” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Monday, November 5th. Zacks Investment Research downgraded Onespan from a “hold” rating to a “sell” rating in a research note on Saturday, November 3rd. Finally, National Securities assumed coverage on Onespan in a research note on Thursday, January 3rd. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $19.00.
The company has a market capitalization of $650.14 million, a P/E ratio of 44.93, a PEG ratio of 3.36 and a beta of 1.93.
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About Onespan (NASDAQ:OSPN)
OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. It enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. The company offers DIGIPASS software authenticators that balance the need for stronger mobile application security; DIGIPASS for Apps, a software development kit, which allows application developers to natively integrate security features; DIGIPASS for Mobile, a mobile authenticator that operates as a discrete mobile application; IDENTIKEY Risk Manager, an anti-fraud solution; and application shielding with runtime application self-protection that neutralizes the threat of attacks on mobile apps.
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