Tenable (NASDAQ:TENB) Coverage Initiated by Analysts at Scotiabank

Equities researchers at Scotiabank began coverage on shares of Tenable (NASDAQ:TENB) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “sector perform” rating and a $47.00 price target on the stock. Scotiabank’s price target would indicate a potential upside of 2.20% from the company’s current price.

A number of other research firms have also weighed in on TENB. Morgan Stanley upgraded shares of Tenable from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $46.00 to $60.00 in a research report on Tuesday, January 9th. Wedbush reiterated an “outperform” rating and issued a $65.00 price objective on shares of Tenable in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on shares of Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Westpark Capital raised 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. Finally, Stephens raised their target price on Tenable from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.20.

Tenable Stock Performance

Shares of TENB opened at $45.99 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a market cap of $5.46 billion, a PE ratio of -67.63 and a beta of 0.94. The company’s 50 day simple moving average is $47.40 and its 200-day simple moving average is $45.13. Tenable has a 12-month low of $33.85 and a 12-month high of $53.50.

Tenable (NASDAQ:TENB) last announced its earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The business had revenue of $213.31 million for the quarter, compared to analyst estimates of $206.95 million. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. As a group, equities analysts predict that Tenable will post -0.12 EPS for the current year.

Insider Transactions at Tenable

In other news, CFO Stephen A. Vintz sold 15,505 shares of Tenable stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $49.56, for a total transaction of $768,427.80. Following the completion of the transaction, the chief financial officer now owns 257,924 shares of the company’s stock, valued at approximately $12,782,713.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Amit Yoran sold 12,329 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total value of $569,846.38. Following the completion of the transaction, the chief executive officer now owns 304,444 shares of the company’s stock, valued at approximately $14,071,401.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen A. Vintz sold 15,505 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $49.56, for a total transaction of $768,427.80. Following the completion of the transaction, the chief financial officer now directly owns 257,924 shares of the company’s stock, valued at approximately $12,782,713.44. The disclosure for this sale can be found here. Insiders sold 317,382 shares of company stock valued at $15,021,615 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in Tenable during the third quarter worth approximately $27,000. Principal Securities Inc. purchased a new position in shares of Tenable in the 4th quarter valued at $35,000. Verity & Verity LLC purchased a new position in shares of Tenable in the 1st quarter valued at $127,000. SG Americas Securities LLC purchased a new position in shares of Tenable in the 4th quarter valued at $127,000. Finally, Shell Asset Management Co. purchased a new position in shares of Tenable in the 3rd quarter valued at $138,000. Institutional investors and hedge funds 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.