Tenable (NASDAQ:TENB) Given New $75.00 Price Target at Canaccord Genuity Group

Tenable (NASDAQ:TENBGet Rating) had its price objective increased by analysts at Canaccord Genuity Group from $62.00 to $75.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 22.69% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Canaccord Genuity Group cut their price target on Tenable from $68.00 to $62.00 in a research note on Tuesday, February 22nd. Wolfe Research assumed coverage on shares of Tenable in a research note on Monday, April 11th. They issued an “outperform” rating and a $70.00 target price for the company. Stifel Nicolaus cut their target price on shares of Tenable from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, March 21st. Piper Sandler lifted their price target on Tenable from $65.00 to $72.00 in a report on Thursday, January 6th. Finally, Morgan Stanley lifted their price target on Tenable from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, February 2nd. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tenable has an average rating of “Buy” and an average target price of $65.60.

Tenable stock traded up $0.60 during midday trading on Thursday, reaching $61.13. The company’s stock had a trading volume of 6,724 shares, compared to its average volume of 1,187,268. Tenable has a fifty-two week low of $35.53 and a fifty-two week high of $63.61. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.55 and a current ratio of 1.55. The stock’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $52.26. The firm has a market capitalization of $6.74 billion, a PE ratio of -142.16 and a beta of 1.60.

Tenable (NASDAQ:TENBGet Rating) last released its earnings results on Tuesday, February 1st. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. Tenable had a negative return on equity of 21.32% and a negative net margin of 8.63%. The company had revenue of $149.02 million during the quarter, compared to the consensus estimate of $144.55 million. During the same quarter last year, the company earned ($0.01) earnings per share. Tenable’s quarterly revenue was up 26.2% compared to the same quarter last year. Equities analysts predict that Tenable will post -0.7 earnings per share for the current year.

In other Tenable news, CEO Amit Yoran sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $59.46, for a total value of $2,081,100.00. Following the transaction, the chief executive officer now directly owns 180,245 shares of the company’s stock, valued at approximately $10,717,367.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stephen A. Riddick sold 6,223 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $45.76, for a total value of $284,764.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 277,646 shares of company stock valued at $15,782,827. 8.40% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of TENB. Counterpoint Mutual Funds LLC acquired a new stake in shares of Tenable during the fourth quarter worth $31,000. KRS Capital Management LLC acquired a new stake in shares of Tenable in the 4th quarter worth about $33,000. Evoke Wealth LLC grew its position in Tenable by 1,220.3% in the 4th quarter. Evoke Wealth LLC now owns 779 shares of the company’s stock valued at $43,000 after buying an additional 720 shares in the last quarter. Concord Wealth Partners grew its position in Tenable by 165.0% in the 4th quarter. Concord Wealth Partners now owns 795 shares of the company’s stock valued at $44,000 after buying an additional 495 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Tenable in the 4th quarter valued at about $80,000. 82.30% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Tenable (NASDAQ:TENB)

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