sample
OneSpan (NASDAQ:OSPN) was downgraded to Neutral from Buy at Sidoti & Company, taking into account the cybersecurity firm’s rating.
“While we believe the company is making good progress in the recovery process, the recovery is still in its early stages. We need to see further improvement before becoming more constructive on our estimates and valuations,” said the Sidoti analyst who also noted that OSPN shares are trading within 10% of his $12 price target.
Sidoti added that cost reduction at OSPN is almost complete and the sales force is more experienced. For 2024, the company’s focus will be on continued operational efficiency and exploring additional growth areas.
“Our $12 price target is based on 14 times our intact 2025 GAAP earnings per share estimate of $0.87. As we have more visibility into our projections, we may become more constructive on our valuation” , commented the financial services company.
Seeking Alpha’s Quant Ratings system recommended OneSpan as a buy, noting the strength of its growth and valuation.
Year to date, OneSpan is up about 9%, while on a 12-month reading the stock is down about a third.