Tenable (NASDAQ:TENB) Issues FY22 Earnings Guidance

Tenable (NASDAQ:TENB – Get Rating) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.16-0.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.19. The company issued revenue guidance of $673-679 million, compared to the consensus revenue estimate of $667.73 million.Tenable also updated its FY 2022 guidance to $0.160-$0.200 EPS.

Shares of NASDAQ:TENB traded down $2.40 on Tuesday, reaching $55.52. The company had a trading volume of 1,361,499 shares, compared to its average volume of 1,185,544. Tenable has a twelve month low of $35.53 and a twelve month high of $63.61. The company has a 50-day moving average of $55.30. The stock has a market cap of $6.12 billion, a PE ratio of -129.11 and a beta of 1.60. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.69.

Tenable (NASDAQ:TENB – Get Rating) last announced its quarterly earnings results on Tuesday, February 1st. The company reported ($0.15) earnings per share for the quarter, topping 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 analysts’ expectations of $144.55 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. On average, research analysts anticipate that Tenable will post -0.7 EPS for the current year.

Several equities analysts recently weighed in on TENB shares. Canaccord Genuity Group boosted their price objective on Tenable from $62.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, April 21st. Morgan Stanley boosted their price objective on Tenable from $60.00 to $63.00 and gave the stock an overweight rating in a research report on Wednesday, February 2nd. Canaccord Genuity Group boosted their price objective on Tenable from $62.00 to $75.00 in a research report on Thursday, April 21st. Zacks Investment Research raised Tenable from a sell rating to a hold rating in a research report on Saturday, March 5th. Finally, Stifel Nicolaus cut their price objective on Tenable from $70.00 to $63.00 and set a buy rating for the company in a research report on Monday, March 21st. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $66.47.

In other news, CEO Amit Yoran sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $62.44, for a total value of $6,244,000.00. Following the sale, the chief executive officer now directly owns 180,245 shares in the company, valued at approximately $11,254,497.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Stephen A. Riddick sold 3,351 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $45.92, for a total value of $153,877.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,646 shares of company stock worth $15,782,827. Corporate insiders own 8.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC grew its position in Tenable by 18.0% during the 4th quarter. Vident Investment Advisory LLC now owns 11,183 shares of the company’s stock worth $616,000 after acquiring an additional 1,707 shares during the last quarter. Wells Fargo & Company MN grew its position in Tenable by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 93,452 shares of the company’s stock worth $5,146,000 after acquiring an additional 20,264 shares during the last quarter. Allianz Asset Management GmbH grew its position in Tenable by 196.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,676,747 shares of the company’s stock worth $92,338,000 after acquiring an additional 1,110,745 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Tenable by 1.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 522,551 shares of the company’s stock worth $28,777,000 after acquiring an additional 7,993 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Tenable by 54.7% during the 4th quarter. Deutsche Bank AG now owns 525,875 shares of the company’s stock worth $28,960,000 after acquiring an additional 186,045 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

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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