Update: From strength to strength
VASCO’s Q2 revenues increased 28%. With three quarters of year-on-year growth and a strong pipeline reported, growth has been firmly re-established across both divisions. We raise our earnings forecasts by 31% this year and 21% next year. The current share price, while at a c 20% P/E premium to peers in 2015, does not fully capture the cyclical recovery being experienced and the structural growth possibilities available.VASCO Data Security International designs, develops and markets digital solutions for identity, security and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. The company's solutions secure access to data, assets, and applications for enterprises and provide tools for application developers to integrate security functions into web-based and mobile application. The company's solutions include open standards-based and proprietary solutions, some of which are products and services used for authentication, e-signing transactions and documents, and identity management in Business-to-Business, Business-to-Employee and Business-to-Consumer environments.
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