B.Riley Initiates ‘Buy’ rating on OneSpan Inc. (OSPN) on Strong Solutions Demand

OneSpan Inc. (NASDAQ:OSPN) is one of the best cybersecurity stocks to buy right now. On August 26, analysts at B.Riley initiated coverage of the stock with a ‘Buy’ rating and a $23 price target.

B.Riley Initiates ‘Buy’ rating on OneSpan Inc. (OSPN) on Strong Solutions Demand

In its research note, B.Riley notes that the company’s competitive edge in the cybersecurity space stems from its robust blue-chip customer base. Additionally, OneSpan is experiencing strong demand for its authentication services, which are expected to continue growing as AI adoption intensifies.

The company’s eSignature technology also presents another growth opportunity owing to its high-end security capabilities. Consequently, the solution is expected to continue eliciting strong demand in the financial sector, as it meets stringent compliance standards. While the stock has shed nearly 20% in market value year to date, B.Riley views the company as a fundamentally attractive investment.

OneSpan Inc. (NASDAQ:OSPN) is a cybersecurity company that offers a broad range of digital identity, transaction, and mobile security solutions. Its offerings include multifactor authentication (MFA), electronic signatures, and identity verification, all designed to protect users and organizations against cyberattacks and fraud.

While we acknowledge the potential of OSPN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OSPN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.