UBS Group Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price objective decreased by equities research analysts at UBS Group from $55.00 to $47.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 43.69% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TENB. Morgan Stanley decreased their price target on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Stephens assumed coverage on shares of Tenable in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $42.00 target price on the stock. Scotiabank raised their price target on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Stifel Nicolaus downgraded Tenable from a “buy” rating to a “hold” rating and decreased their price objective for the company from $46.00 to $45.00 in a report on Friday, January 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Tenable in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.72.

Tenable Price Performance

Shares of Tenable stock opened at $32.71 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $3.93 billion, a PE ratio of -109.03 and a beta of 0.88. The firm has a fifty day moving average price of $35.31 and a two-hundred day moving average price of $39.25. Tenable has a fifty-two week low of $29.99 and a fifty-two week high of $49.18.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Analysts expect that Tenable will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other Tenable news, CEO Mark C. Thurmond sold 1,341 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.56, for a total transaction of $53,049.96. Following the completion of the sale, the chief executive officer now directly owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. The trade was a 3.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Linda Kay Zecher sold 2,500 shares of Tenable stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total transaction of $92,500.00. Following the sale, the director now owns 353 shares of the company’s stock, valued at approximately $13,061. This represents a 87.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,128 shares of company stock valued at $539,256. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenable

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its position in shares of Tenable by 31.9% in the 3rd quarter. Barclays PLC now owns 731,626 shares of the company’s stock worth $29,646,000 after purchasing an additional 177,048 shares during the last quarter. Virtu Financial LLC acquired a new position in Tenable in the third quarter valued at about $282,000. Tidal Investments LLC grew its position in shares of Tenable by 19.4% during the 3rd quarter. Tidal Investments LLC now owns 31,518 shares of the company’s stock worth $1,277,000 after buying an additional 5,116 shares during the period. Franklin Resources Inc. grew its position in shares of Tenable by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 448,586 shares of the company’s stock worth $18,984,000 after buying an additional 30,530 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Tenable by 10.4% in the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock valued at $10,489,000 after acquiring an additional 25,247 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

About Tenable

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.