Barclays Cuts Tenable (NASDAQ:TENB) Price Target to $33.00

Tenable (NASDAQ:TENB) had its price target trimmed by Barclays from $40.00 to $33.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on TENB. Needham & Company LLC dropped their target price on Tenable from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday. Westpark Capital restated a “hold” rating on shares of Tenable in a report on Wednesday. Morgan Stanley reduced their target price on Tenable from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Scotiabank dropped their price target on Tenable from $45.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, UBS Group decreased their target price on Tenable from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Tenable currently has a consensus rating of “Moderate Buy” and an average price target of $40.44.

Tenable Stock Performance

Shares of NASDAQ:TENB opened at $30.77 on Wednesday. The company has a market cap of $3.70 billion, a P/E ratio of -102.57 and a beta of 0.88. Tenable has a one year low of $28.75 and a one year high of $49.18. The business’s 50-day simple moving average is $34.47 and its 200 day simple moving average is $38.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, sell-side analysts forecast that Tenable will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tenable

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Tenable in the 4th quarter worth $54,950,000. Shapiro Capital Management LLC lifted its stake in shares of Tenable by 647.5% in the fourth quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock valued at $41,745,000 after buying an additional 918,235 shares during the period. Vanguard Group Inc. grew its position in Tenable by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after buying an additional 708,249 shares in the last quarter. Penserra Capital Management LLC increased its stake in Tenable by 47.6% during the first quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company’s stock valued at $59,031,000 after acquiring an additional 544,375 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Tenable in the 4th quarter valued at approximately $15,653,000. Institutional investors own 89.06% of the company’s stock.

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.