OneSpan (NASDAQ:OSPN) Hits New 52-Week High – Should You Buy?

OneSpan Inc. (NASDAQ:OSPN)’s share price reached a new 52-week high on Friday . The company traded as high as $17.92 and last traded at $17.88, with a volume of 112314 shares changing hands. The stock had previously closed at $17.67.

Analysts Set New Price Targets

OSPN has been the subject of a number of recent research reports. StockNews.com raised shares of OneSpan from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 4th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of OneSpan in a report on Monday, October 28th. Finally, Sidoti raised shares of OneSpan from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $19.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.13.

OneSpan Stock Up 1.5 %

The stock’s 50-day moving average is $15.93 and its 200-day moving average is $14.52. The firm has a market cap of $681.56 million, a P/E ratio of 24.16 and a beta of 0.75.

Hedge Funds Weigh In On OneSpan

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSPN. Barclays PLC grew its holdings in shares of OneSpan by 388.5% during the 3rd quarter. Barclays PLC now owns 66,719 shares of the company’s stock worth $1,113,000 after purchasing an additional 53,060 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of OneSpan by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 857,474 shares of the company’s stock valued at $14,297,000 after acquiring an additional 14,086 shares in the last quarter. State Street Corp increased its stake in OneSpan by 1.6% in the third quarter. State Street Corp now owns 1,641,855 shares of the company’s stock valued at $27,370,000 after acquiring an additional 25,361 shares during the period. 272 Capital LP acquired a new position in OneSpan in the third quarter worth about $1,659,000. Finally, Verition Fund Management LLC bought a new stake in shares of OneSpan in the 3rd quarter valued at approximately $236,000. 95.52% of the stock is currently owned by institutional investors.

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.