Tenable Holdings, Inc. (NASDAQ:TENB) Receives $52.67 Average Target Price from Brokerages

Shares of Tenable Holdings, Inc. (NASDAQ:TENB) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $52.67.

Several research firms have weighed in on TENB. Barclays lowered their target price on Tenable from $57.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Westpark Capital lowered shares of Tenable from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Tenable in a research note on Friday, September 13th. Truist Financial restated a “buy” rating and set a $55.00 price target (down from $60.00) on shares of Tenable in a report on Thursday, August 1st. Finally, DA Davidson lowered Tenable from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $40.00 in a report on Thursday, August 1st.

Tenable Stock Down 0.4 %

Shares of NASDAQ:TENB opened at $39.92 on Friday. The firm has a 50 day simple moving average of $41.22 and a 200 day simple moving average of $43.37. Tenable has a 52 week low of $33.85 and a 52 week 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. The company has a market cap of $4.75 billion, a PE ratio of -68.83 and a beta of 0.83.

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

Insider Activity

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

Institutional Investors Weigh In On Tenable

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC raised its stake in Tenable by 16.7% during the 4th quarter. Corient Private Wealth LLC now owns 77,383 shares of the company’s stock valued at $3,564,000 after purchasing an additional 11,088 shares during the last quarter. Tidal Investments LLC raised its position in shares of Tenable by 157.8% during the first quarter. Tidal Investments LLC now owns 23,268 shares of the company’s stock valued at $1,150,000 after buying an additional 14,244 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Tenable in the first quarter valued at about $1,239,000. CANADA LIFE ASSURANCE Co grew 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 buying an additional 61,080 shares in the last quarter. Finally, Norges Bank bought a new position in Tenable during the fourth quarter valued at about $56,568,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.