Robert W. Baird Cuts Tenable (NASDAQ:TENB) Price Target to $40.00

Tenable (NASDAQ:TENB) had its target price trimmed by Robert W. Baird from $44.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

TENB has been the topic of a number of other research reports. Stifel Nicolaus cut shares of Tenable from a “buy” rating to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Barclays dropped their price objective on Tenable from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Cantor Fitzgerald assumed coverage on Tenable in a research note on Monday, March 31st. They set an “overweight” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Tenable from $53.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, 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 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.44.

Tenable Stock Performance

NASDAQ:TENB opened at $30.77 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a 50-day simple moving average of $34.47 and a two-hundred day simple moving average of $38.83. The firm has a market capitalization of $3.70 billion, a PE ratio of -102.57 and a beta of 0.88. Tenable has a 52-week low of $28.75 and a 52-week high of $49.18.

Tenable (NASDAQ:TENB) last announced 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. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The company had revenue of $239.14 million during the quarter, compared to the consensus estimate of $234.12 million. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Analysts forecast that Tenable will post 0.12 EPS for the current year.

Insider Activity at Tenable

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

Institutional Inflows and Outflows

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