DA Davidson Begins Coverage on Tenable (NASDAQ:TENB)

Equities research analysts at DA Davidson started coverage on shares of Tenable (NASDAQ:TENBGet Rating) in a research note issued to investors on Monday, The Fly reports. The firm set a “buy” rating on the stock.

A number of other research analysts also recently issued reports on TENB. Wedbush restated a “buy” rating and set a $70.00 target price on shares of Tenable in a research report on Wednesday, February 2nd. Zacks Investment Research upgraded shares of Tenable from a “sell” rating to a “hold” rating in a research report on Saturday, March 5th. Barclays upped their price objective on shares of Tenable from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 16th. Canaccord Genuity Group decreased their price objective on shares of Tenable from $68.00 to $62.00 in a research report on Tuesday, February 22nd. Finally, Morgan Stanley upped their price objective on shares of Tenable from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 2nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Tenable has a consensus rating of “Buy” and a consensus price target of $64.15.

NASDAQ TENB traded up $2.12 on Monday, reaching $58.39. 1,430,783 shares of the company’s stock traded hands, compared to its average volume of 1,182,887. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -135.79 and a beta of 1.60. The business has a 50 day moving average of $53.19. Tenable has a fifty-two week low of $35.53 and a fifty-two week high of $60.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.55 and a current ratio of 1.55.

Tenable (NASDAQ:TENBGet Rating) last posted its earnings results on Tuesday, February 1st. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The company had revenue of $149.02 million during the quarter, compared to the consensus estimate of $144.55 million. Tenable had a negative net margin of 8.63% and a negative return on equity of 21.32%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, analysts expect that Tenable will post -0.69 EPS for the current fiscal year.

In related news, General Counsel Stephen A. Riddick sold 3,351 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $45.92, for a total transaction of $153,877.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Amit Yoran sold 37,500 shares of the company’s stock in a transaction dated Friday, January 14th. The shares were sold at an average price of $48.87, for a total transaction of $1,832,625.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,146 shares of company stock valued at $9,290,352. 8.40% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Tenable by 23.5% in the 3rd quarter. Millennium Management LLC now owns 930,166 shares of the company’s stock valued at $42,918,000 after buying an additional 177,209 shares during the period. Voya Investment Management LLC grew its stake in shares of Tenable by 1.6% in the 3rd quarter. Voya Investment Management LLC now owns 35,641 shares of the company’s stock valued at $1,645,000 after buying an additional 566 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Tenable by 200.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 87,869 shares of the company’s stock valued at $4,054,000 after buying an additional 58,664 shares during the period. Spearhead Capital Advisors LLC grew its stake in shares of Tenable by 6.2% in the 3rd quarter. Spearhead Capital Advisors LLC now owns 10,289 shares of the company’s stock valued at $475,000 after buying an additional 601 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Tenable by 9.6% in the 3rd quarter. Truist Financial Corp now owns 8,314 shares of the company’s stock valued at $383,000 after buying an additional 730 shares during the period. 82.30% of the stock is owned by institutional investors and hedge funds.

About Tenable (Get Rating)

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.io, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable.cs, a cloud-native application platform that enables organizations to programmatically detect and fix cloud infrastructure misconfigurations; Tenable.io WAS, which provides scanning for modern web applications; and Tenable.ep, an unified platform that helps organizations identify, assess, and accurately prioritize cyber risks across the entire attack surface.

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