Needham & Company LLC Reaffirms Buy Rating for Tenable (NASDAQ:TENB)

Needham & Company LLC reiterated their buy rating on shares of Tenable (NASDAQ:TENB) in a research report released on Tuesday, Benzinga reports. They currently have a $62.00 price target on the stock.

TENB has been the subject of a number of other reports. Westpark Capital raised shares of Tenable from a hold rating to a buy rating and set a $65.00 target price for the company in a report on Friday, January 12th. Wells Fargo & Company raised their target price on shares of Tenable from $55.00 to $60.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Wedbush reissued an outperform rating and issued a $65.00 target price on shares of Tenable in a report on Wednesday, April 10th. Susquehanna raised their target price on shares of Tenable from $55.00 to $60.00 and gave the company a positive rating in a report on Thursday, February 8th. Finally, Truist Financial raised their target price on shares of Tenable from $50.00 to $60.00 and gave the company a buy rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $56.63.

Tenable Trading Up 2.5 %

TENB stock opened at $46.15 on Tuesday. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -67.87 and a beta of 0.94. The business has a 50 day simple moving average of $47.71 and a two-hundred day simple moving average of $45.10.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.06. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. The business had revenue of $213.31 million during the quarter, compared to the consensus estimate of $206.95 million. Research analysts anticipate that Tenable will post -0.12 EPS for the current fiscal year.

Insider Transactions at Tenable

In related news, CFO Stephen A. Vintz sold 15,505 shares of Tenable stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $49.56, for a total value of $768,427.80. Following the completion of the sale, the chief financial officer now directly owns 257,924 shares in the company, valued at $12,782,713.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Mark C. Thurmond sold 1,089 shares of Tenable stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $47.73, for a total value of $51,977.97. Following the completion of the sale, the chief operating officer now directly owns 48,846 shares in the company, valued at $2,331,419.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen A. Vintz sold 15,505 shares of Tenable stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $49.56, for a total value of $768,427.80. Following the completion of the sale, the chief financial officer now owns 257,924 shares of the company’s stock, valued at $12,782,713.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 317,382 shares of company stock worth $15,021,615. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Tenable

Several institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in Tenable in the third quarter valued at about $27,000. Principal Securities Inc. purchased a new position in Tenable in the fourth quarter valued at about $35,000. SG Americas Securities LLC purchased a new position in Tenable in the fourth quarter valued at about $127,000. Shell Asset Management Co. purchased a new position in Tenable in the third quarter valued at about $138,000. Finally, Allspring Global Investments Holdings LLC grew its stake 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. 89.06% of the stock is currently owned by institutional investors.

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.