Needham Believes OneSpan (OSPN) Still Has Room to Grow
Needham analyst Roger Boyd maintained a Buy rating on OneSpan (OSPN) today and set a price target of $24.00. The company’s shares closed last Tuesday at $20.11, close to its 52-week high of $20.53.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for OneSpan with a $24.00 average price target.
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Based on OneSpan’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $56.49 million and net profit of $98K. In comparison, last year the company earned revenue of $47.61 million and had a GAAP net loss of $5.67 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock.
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OneSpan, Inc. engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents. The company was founded by T. Kendall Hunt in 1991 and is headquartered in Chicago, IL.