Tenable (NASDAQ:TENB) Price Target Cut to $50.00 by Analysts at Robert W. Baird

Tenable (NASDAQ:TENB) had its price objective dropped by equities research analysts at Robert W. Baird from $53.00 to $50.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 22.19% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group decreased their target price on Tenable from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Piper Sandler decreased their price objective on Tenable from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Tenable in a report on Friday, September 13th. Jefferies Financial Group started coverage on shares of Tenable in a research note on Wednesday, October 16th. They issued a “hold” rating and a $45.00 price target on the stock. Finally, DA Davidson cut shares of Tenable from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $40.00 in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenable currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.38.

Tenable Stock Up 1.4 %

TENB opened at $40.92 on Friday. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The stock has a market cap of $4.87 billion, a PE ratio of -73.07 and a beta of 0.83. The stock’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $42.52. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Tenable (NASDAQ:TENB) last posted its earnings results on Wednesday, July 31st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Tenable had a negative net margin of 7.77% and a negative return on equity of 7.63%. The company had revenue of $221.24 million during the quarter, compared to analysts’ expectations of $218.41 million. As a group, research analysts expect that Tenable will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Mark C. Thurmond sold 3,383 shares of Tenable stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total value of $140,935.78. Following the transaction, the chief operating officer now owns 34,079 shares in the company, valued at approximately $1,419,731.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Amit Yoran sold 5,673 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total value of $236,847.75. Following the completion of the transaction, the chief executive officer now owns 39,309 shares of the company’s stock, valued at $1,641,150.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark C. Thurmond sold 3,383 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $41.66, for a total transaction of $140,935.78. Following the sale, the chief operating officer now directly owns 34,079 shares in the company, valued at approximately $1,419,731.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,469 shares of company stock worth $2,429,076 over the last three months. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Tenable

Hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new position in Tenable in the 2nd quarter worth about $40,000. Fidelis Capital Partners LLC bought a new stake in shares of Tenable during the first quarter worth about $58,000. Allspring Global Investments Holdings LLC increased its stake in shares of Tenable by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,708 shares of the company’s stock valued at $183,000 after buying an additional 312 shares during the period. Truvestments Capital LLC bought a new position in Tenable in the 1st quarter valued at approximately $189,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Tenable during the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Tenable

Tenable Holdings, Inc provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud-native cloud security solutions for security teams to continuously assess the security posture; Tenable Identity Exposure, a solution to secure Active Directory environments; Tenable Web App Scanning, which provides scanning for modern web applications; Tenable Lumin Exposure View, a measurement tool; Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises solution that provides a risk-based view of an organization’s IT, security and compliance posture; and Tenable OT Security, an operational technology security solution which provides threat detection, asset tracking, vulnerability management, and configuration control capabilities.