DA Davidson raised the firm’s price target on OneSpan to $12 from $9.50 and keeps a Neutral rating on the shares. The company’s Q4 revenue and EBITDA were well ahead of estimates while 2024 guidance was slightly ahead on both figures, the analyst tells investors in a research note. The firm views the earnings report as solid but says the 30% after-hours rally “seems like quite an overreaction.” Davidson continues to find OneSpan shares fairly valued and believes higher growth is needed to drive a re-rating in the shares.
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