DA Davidson Has Bullish Forecast for OneSpan FY2024 Earnings

OneSpan Inc. (NASDAQ:OSPN) – Equities researchers at DA Davidson upped their FY2024 earnings estimates for shares of OneSpan in a report issued on Thursday, October 31st. DA Davidson analyst R. Kessinger now anticipates that the company will post earnings per share of $1.12 for the year, up from their previous estimate of $0.94. The consensus estimate for OneSpan’s current full-year earnings is $0.94 per share. DA Davidson also issued estimates for OneSpan’s Q4 2024 earnings at $0.21 EPS and FY2025 earnings at $1.24 EPS.

Several other analysts have also issued reports on OSPN. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of OneSpan in a research report on Monday. Sidoti raised OneSpan from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $19.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

OneSpan Stock Up 14.6 %

OneSpan stock opened at $16.68 on Friday. The company has a market capitalization of $631.67 million, a P/E ratio of 22.54 and a beta of 0.76. The firm has a 50 day moving average price of $15.47 and a 200-day moving average price of $13.85. OneSpan has a twelve month low of $7.72 and a twelve month high of $17.73.

OneSpan (NASDAQ:OSPN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. The business had revenue of $60.92 million during the quarter. OneSpan had a net margin of 11.73% and a return on equity of 24.13%. During the same period in the previous year, the company posted ($0.27) earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in shares of OneSpan by 860.4% during the second quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after buying an additional 1,936 shares during the last quarter. Quest Partners LLC increased its position in OneSpan by 2,952.6% during the 2nd quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock valued at $31,000 after purchasing an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in OneSpan during the 2nd quarter valued at approximately $41,000. Point72 Asset Management L.P. bought a new stake in shares of OneSpan during the second quarter valued at approximately $74,000. Finally, CWM LLC boosted its holdings in shares of OneSpan by 872.1% during the 2nd quarter. CWM LLC now owns 6,241 shares of the company’s stock valued at $80,000 after buying an additional 5,599 shares in the last quarter. 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.