OneSpan initiated with a Buy at B. Riley

B. Riley initiated coverage of OneSpan (OSPN) with a Buy rating and $23 price target OneSpan is a leading provider of multi-factor authentication solutions that banks and financial institutions provide to their customers to secure transactions, the analyst tells investors in a research note. The firm says the company blue-chip customer base while multi-factor authentication demand is growing rapidly. Artificial intelligence offers a “compelling demand catalyst,” contends Riley. The firm sees a buying opportunity at current share levels.