OneSpan Inc. (OSPN) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does OneSpan Inc. Do?
OneSpan Inc., together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity 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 signing, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services. It also provides Mobile Security Suite, a software development kit; Mobile Authenticator Studio, a mobile authenticator that operates as a discrete mobile application; and authentication servers, which enables customers to administer a high level of access control. In addition, it offers Trusted Identity Platform, a cloud platform that simplify and secure user journeys; Intelligent Adaptive Authentication; and Risk Analytics, a comprehensive anti-fraud solution. It sells its solutions through its direct sales force, as well as through distributors, resellers, systems integrators, and original equipment manufacturers. The company was formerly known as VASCO Data Security International, Inc. and changed its name to OneSpan Inc. in May 2018. OneSpan Inc. was founded in 1991 and is headquartered in Chicago, Illinois. OneSpan Inc. was a former subsidiary of Guidewire Software, Inc. OneSpan Inc. (OSPN) is classified as a small-cap stock in the Technology sector, specifically within the Computer Software industry. The company is led by CEO Matthew P. Moynahan and employs approximately 790 people, headquartered in Oakbrook Terrace, Massachusetts. With a market capitalization of $398M, OSPN is one of the notable companies in the Technology sector.
OneSpan Inc. (OSPN) Stock Rating — Reduce (April 2026)
As of April 2026, OneSpan Inc. receives a Reduce rating with a composite score of 42.9/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.OSPN ranks #2,154 out of 4,446 stocks in our coverage universe. Within the Technology sector, OneSpan Inc. ranks #233 of 584 stocks, placing it in the upper half of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
OSPN Stock Price and 52-Week Range
OneSpan Inc. (OSPN) currently trades at $10.60. The stock lost $0.17 (1.6%) in the most recent trading session. The 52-week high for OSPN is $18.13, which means the stock is currently trading -41.5% from its annual peak. The 52-week low is $10.16, putting the stock 4.3% above its annual trough. Recent trading volume was 441K shares, suggesting relatively thin trading activity.
Is OSPN Overvalued or Undervalued? — Valuation Analysis
OneSpan Inc. (OSPN) carries a value factor score of 76/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 10.94x, compared to the Technology sector average of 45.27x — a discount of 76%. The price-to-book ratio stands at 1.51x, versus the sector average of 3.16x. The price-to-sales ratio is 1.74x, compared to 1.06x for the average Technology stock. On an enterprise value basis, OSPN trades at 8.73x EV/EBITDA, versus 12.79x for the sector.
Based on these multiples, OneSpan Inc. appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
OneSpan Inc. Profitability — ROE, Margins, and Quality Score
OneSpan Inc. (OSPN) earns a quality factor score of 49/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 13.8%, compared to the Technology sector average of -1.4%, which is within a healthy range. Return on assets (ROA) comes in at 9.5% versus the sector average of -1.0%.
On a margin basis, OneSpan Inc. reports gross margins of 73.8%, compared to 50.9% for the sector. The operating margin is 19.8% (sector: -0.5%). Net profit margin stands at 15.7%, versus -1.5% for the average Technology stock. Revenue growth is running at -6.3% on a trailing basis, compared to 14.2% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
OSPN Debt, Balance Sheet, and Financial Health
OneSpan Inc. has a debt-to-equity ratio of 46.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 1.50x, suggesting adequate working capital coverage. Total debt on the balance sheet is $6M. Cash and equivalents stand at $86M.
OSPN has a beta of 1.09, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for OneSpan Inc. is 53/100, reflecting average volatility within the normal range for its sector.
OneSpan Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, OneSpan Inc. reported revenue of $237M and earnings per share (EPS) of $1.91. Net income for the quarter was $38M. Gross margin was 73.8%. Operating income came in at $47M.
In FY 2025, OneSpan Inc. reported revenue of $243M and earnings per share (EPS) of $1.91. Net income for the quarter was $73M. Gross margin was 73.8%. Revenue grew 0.0% year-over-year compared to FY 2024. Operating income came in at $48M.
In Q3 2025, OneSpan Inc. reported revenue of $57M and earnings per share (EPS) of $0.17. Net income for the quarter was $7M. Gross margin was 73.6%. Revenue grew 1.4% year-over-year compared to Q3 2024. Operating income came in at $8M.
In Q2 2025, OneSpan Inc. reported revenue of $60M and earnings per share (EPS) of $0.22. Net income for the quarter was $8M. Gross margin was 73.5%. Revenue grew -1.8% year-over-year compared to Q2 2024. Operating income came in at $11M.
Over the past 8 quarters, OneSpan Inc. has demonstrated a growth trajectory, with revenue expanding from $61M to $237M. Investors analyzing OSPN stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
OSPN Dividend Yield and Income Analysis
OneSpan Inc. (OSPN) currently pays a dividend yield of 2.3%. At this yield, a $10,000 investment in OSPN stock would generate approximately $$227.00 in annual dividend income. With a net margin of 15.7%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
OSPN Momentum and Technical Analysis Profile
OneSpan Inc. (OSPN) has a momentum factor score of 23/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 35/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 23/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
OSPN vs Competitors — Technology Sector Ranking and Peer Comparison
Within the Technology sector, OneSpan Inc. (OSPN) ranks #233 out of 584 stocks based on the Blank Capital composite score. This places OSPN in the upper half of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.
Comparing OSPN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full OSPN vs S&P 500 (SPY) comparison to assess how OneSpan Inc. stacks up against the broader market across all factor dimensions.
OSPN Next Earnings Date
No upcoming earnings date has been announced for OneSpan Inc. (OSPN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy OSPN? — Investment Thesis Summary
The quantitative profile for OneSpan Inc. suggests caution. The value score of 76/100 suggests attractive pricing relative to fundamentals. Momentum is weak at 23/100, a headwind for near-term performance.
In summary, OneSpan Inc. (OSPN) earns a Reduce rating with a composite score of 42.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on OSPN stock.
Related Resources for OSPN Investors
Explore more research and tools: OSPN vs S&P 500 comparison, top Technology stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare OSPN head-to-head with peers: OSPN vs IHS, OSPN vs VRSN, OSPN vs ESE.