Piper Sandler Lowers Tenable (NASDAQ:TENB) Price Target to $50.00

Tenable (NASDAQ:TENB) had its target price lowered by investment analysts at Piper Sandler from $55.00 to $50.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 28.93% from the stock’s current price.

Several other research analysts also recently commented on the company. Susquehanna reduced their target price on Tenable from $60.00 to $48.00 and set a “positive” rating for the company in a research note on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Tenable in a research report on Tuesday. Wells Fargo & Company decreased their target price on Tenable from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Scotiabank dropped their price target on Tenable from $47.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Finally, Westpark Capital cut Tenable from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.81.

Tenable Trading Down 2.1 %

Shares of TENB opened at $38.78 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a 50-day moving average of $40.76 and a 200-day moving average of $42.24. Tenable has a one year low of $33.85 and a one year high of $53.50.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business 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 6.42% and a negative net margin of 6.82%. Sell-side analysts anticipate that Tenable will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other Tenable news, CFO Stephen A. Vintz sold 3,413 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $41.75, for a total transaction 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 $11,627,082.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Stephen A. Vintz sold 3,413 shares of the firm’s 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 sale, the chief financial officer now directly owns 278,493 shares of the company’s stock, valued at $11,627,082.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amit Yoran sold 5,673 shares of the business’s 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 transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,469 shares of company stock worth $520,276. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Tenable

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd increased its holdings in shares of Tenable by 84.5% during the third quarter. Covestor Ltd now owns 631 shares of the company’s stock worth $26,000 after buying an additional 289 shares in the last quarter. Quest Partners LLC bought a new stake in Tenable during the 2nd quarter worth $40,000. Fidelis Capital Partners LLC acquired a new position in Tenable in the 1st quarter worth about $58,000. Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 312 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Tenable during the first quarter valued at about $189,000. Institutional investors 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.