Barclays Forecasts Strong Price Appreciation for Tenable (NASDAQ:TENB) Stock

Tenable (NASDAQ:TENB) had its price target raised by research analysts at Barclays from $45.00 to $48.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 11.09% from the company’s previous close.

A number of other brokerages also recently weighed in on TENB. Scotiabank raised their price objective on Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 target price (down previously from $50.00) on shares of Tenable in a research report on Monday, December 2nd. Stifel Nicolaus downgraded Tenable from a “buy” rating to a “hold” rating and lowered their target price for the stock from $46.00 to $45.00 in a research note on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Tenable from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Piper Sandler cut their price target on shares of Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tenable has a consensus rating of “Moderate Buy” and an average target price of $50.44.

Tenable Trading Up 0.4 %

Shares of TENB stock opened at $43.21 on Thursday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of -84.73 and a beta of 0.87. The stock’s 50-day moving average price is $41.45 and its 200-day moving average price is $41.34. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a 12-month low of $35.25 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative return on equity of 6.21% and a negative net margin of 6.82%. Equities research analysts predict that Tenable will post -0.02 EPS for the current fiscal year.

Insider Activity at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 3,180 shares of Tenable stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.74, for a total transaction of $135,913.20. Following the completion of the transaction, the chief financial officer now directly owns 285,045 shares of the company’s stock, valued at approximately $12,182,823.30. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amit Yoran sold 4,828 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total transaction of $196,596.16. Following the transaction, the chief executive officer now owns 45,171 shares in the company, valued at $1,839,363.12. The trade was a 9.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,463 shares of company stock valued at $894,042. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TENB. Readystate Asset Management LP bought a new position in shares of Tenable in the 3rd quarter valued at about $24,660,000. Assenagon Asset Management S.A. bought a new position in Tenable in the fourth quarter valued at approximately $15,653,000. FMR LLC grew its holdings in Tenable by 2.0% during the 3rd quarter. FMR LLC now owns 15,210,927 shares of the company’s stock worth $616,347,000 after acquiring an additional 305,334 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Tenable by 28.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 920,378 shares of the company’s stock valued at $37,294,000 after acquiring an additional 201,366 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Tenable by 430.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock valued at $9,771,000 after purchasing an additional 201,360 shares during the period. Institutional investors 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.