Tenable (NASDAQ:TENB) Updates FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.180. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $892.6 million. Tenable also updated its FY24 guidance to $1.21-$1.23 EPS.

Tenable Trading Down 1.4 %

Shares of Tenable stock traded down $0.57 on Wednesday, hitting $41.23. The stock had a trading volume of 1,323,481 shares, compared to its average volume of 904,614. The stock has a 50 day moving average of $40.83 and a 200 day moving average of $42.27. The firm has a market capitalization of $4.91 billion, a P/E ratio of -73.63 and a beta of 0.83. Tenable has a twelve month low of $33.85 and a twelve month high of $53.50. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data 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 business had revenue of $221.24 million during the quarter, compared to the consensus estimate of $218.41 million. Tenable had a negative return on equity of 7.63% and a negative net margin of 7.77%. Sell-side analysts expect that Tenable will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TENB. Stifel Nicolaus cut their target price on Tenable from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Barclays reduced their price objective on shares of Tenable from $57.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $55.00 target price (down previously from $60.00) on shares of Tenable in a research report on Thursday, August 1st. Westpark Capital cut shares of Tenable from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Baird R W raised shares of Tenable to a “strong-buy” rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.38.

Insider Buying and Selling

In related news, CFO Stephen A. Vintz sold 3,413 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 $142,492.75. Following the completion of the sale, the chief financial officer now owns 278,493 shares of the company’s stock, valued at approximately $11,627,082.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Stephen A. Vintz sold 3,413 shares of Tenable 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 $142,492.75. Following the completion of the transaction, the chief financial officer now directly owns 278,493 shares in the company, valued at approximately $11,627,082.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark C. Thurmond sold 3,383 shares of the 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 sale, the chief operating officer now owns 34,079 shares in the company, 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. In the last quarter, insiders have sold 12,469 shares of company stock valued at $520,276. 4.30% of the stock is owned by company insiders.

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.