Tenable’s (TENB) Buy Rating Reiterated at Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $50.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 23.00% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Baird R W raised shares of Tenable to a “strong-buy” rating in a research note on Monday, July 15th. Scotiabank dropped their target price on Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Morgan Stanley lowered their target price on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Barclays reduced their price target on Tenable from $57.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Five investment 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’s stock. According to MarketBeat, Tenable presently has an average rating of “Moderate Buy” and an average target price of $51.38.

Tenable Price Performance

NASDAQ:TENB opened at $40.65 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.84 billion, a PE ratio of -72.59 and a beta of 0.83. Tenable has a 12 month low of $33.85 and a 12 month high of $53.50. The company’s 50-day moving average price is $40.87 and its two-hundred day moving average price is $42.38.

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

Insiders Place Their Bets

In related news, CEO Amit Yoran sold 5,673 shares of Tenable stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.75, for a total value of $236,847.75. Following the sale, the chief executive officer now owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Amit Yoran sold 5,673 shares of the firm’s stock in a transaction 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 directly owns 39,309 shares of the company’s stock, valued at approximately $1,641,150.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark C. Thurmond sold 3,383 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.66, for a total transaction of $140,935.78. Following the completion of the sale, the chief operating officer now owns 34,079 shares of the company’s stock, valued at approximately $1,419,731.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,469 shares of company stock valued at $520,276 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC raised its position in shares of Tenable by 157.8% in the first quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock valued at $1,150,000 after purchasing an additional 14,244 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Tenable by 21.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 352,468 shares of the company’s stock worth $17,408,000 after acquiring an additional 61,080 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Tenable by 10.1% during the first quarter. ProShare Advisors LLC now owns 21,283 shares of the company’s stock worth $1,052,000 after acquiring an additional 1,961 shares during the period. Blair William & Co. IL grew its position in shares of Tenable by 9.5% in the first quarter. Blair William & Co. IL now owns 295,886 shares of the company’s stock valued at $14,626,000 after purchasing an additional 25,760 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tenable by 16.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 932,384 shares of the company’s stock worth $46,088,000 after purchasing an additional 131,117 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

Tenable Company Profile

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.