From Nasdaq: 2024-07-30 12:27:00

ONESPAN (OSPN) is set to report its second-quarter 2024 results on Aug 1. The consensus estimate for earnings is 19 cents per share, with a history of beating estimates by 501.65%. Factors contributing to potential growth include strong renewals, expanding international footprint, and increased demand for cloud-based solutions. Subscription revenues have seen significant growth as well.

The company’s performance is expected to benefit from strong renewals and expansions in contracts, especially in cloud-based solutions like OCA. ONESPAN has shown growth in demand for cloud-based authentication solutions and security subscriptions, with a notable increase in subscription revenue by 34% year over year in the first quarter of 2024. Cloud-based solutions in the Digital Agreements business unit have also seen significant growth.

With a focus on security and fraud prevention, ONESPAN’s anti-fraud solutions continue to be highly valued by customers. The company’s expanding international footprint, particularly in the APAC region, has contributed positively to overall revenue growth. A positive earnings surprise is anticipated due to these factors.

While ONESPAN has a Zacks Rank of #3 (Hold) and an Earnings ESP of +0.00%, other companies like Shopify (SHOP) and Apple (AAPL) are showing promising signs for beating earnings estimates in their upcoming releases. Shopify has an Earnings ESP of +7.78% and a Zacks Rank #1, while Apple has an Earnings ESP of +3.05% and a Zacks Rank #2. Additionally, Cognizant Technology Solutions (CTSH) is positioned well for its second-quarter 2024 results.

Considering the potential for positive earnings surprises, investors may want to keep an eye on ONESPAN, Shopify, Apple, and Cognizant Technology Solutions before their respective earnings announcements. Download the Earnings Season Profit Secrets report for insights on stocks that could perform well post-earnings.



Read more at Nasdaq: ONESPAN (OSPN) to Report Q2 Earnings: What’s in the Cards?