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

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

Analysts Set New Price Targets

Several brokerages recently commented on OSPN. StockNews.com upgraded shares of OneSpan from a “buy” rating to a “strong-buy” rating in a report on Monday, November 4th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of OneSpan in a report on Monday, October 28th. Finally, Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $19.00 in a report on Thursday, October 31st. One investment 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, the company currently has a consensus rating of “Buy” and a consensus price target of $17.13.

OneSpan Stock Up 0.6 %

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

Hedge Funds Weigh In On OneSpan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in OneSpan in the third quarter valued at about $173,000. Segall Bryant & Hamill LLC boosted its position in OneSpan by 14.1% in the third quarter. Segall Bryant & Hamill LLC now owns 755,172 shares of the company’s stock valued at $12,589,000 after buying an additional 93,263 shares in the last quarter. Meeder Asset Management Inc. boosted its position in OneSpan by 6.8% in the third quarter. Meeder Asset Management Inc. now owns 13,867 shares of the company’s stock valued at $231,000 after buying an additional 884 shares in the last quarter. Quest Partners LLC boosted its position in OneSpan by 865.5% in the third quarter. Quest Partners LLC now owns 22,988 shares of the company’s stock valued at $383,000 after buying an additional 20,607 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new position in OneSpan in the third quarter valued at about $335,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.