Stifel Nicolaus Cuts Tenable (NASDAQ:TENB) Price Target to $30.00

Tenable (NASDAQ:TENB) had its price target cut by Stifel Nicolaus from $45.00 to $30.00 in a research report report published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages also recently issued reports on TENB. Cantor Fitzgerald assumed coverage on shares of Tenable in a report on Monday, March 31st. They set an “overweight” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Tenable from $53.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group reduced their price target on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, March 31st. Stephens assumed coverage on Tenable in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 price objective on the stock. Finally, UBS Group reduced 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 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.44.

Tenable Stock Performance

NASDAQ TENB opened at $30.77 on Wednesday. The firm has a market capitalization of $3.70 billion, a P/E ratio of -102.57 and a beta of 0.88. The stock has a 50-day simple moving average of $34.47 and a two-hundred day simple moving average of $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 has a fifty-two week low of $28.75 and a fifty-two week high of $49.18.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $234.12 million. During the same period last year, the business earned $0.25 earnings per share. Tenable’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Tenable will post 0.12 earnings per share for the current year.

Insider Transactions at Tenable

In other news, Director Linda Kay Zecher sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark C. Thurmond sold 1,341 shares of the firm’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 sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock worth $539,256 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new stake in Tenable during the fourth quarter worth $15,653,000. Nordea Investment Management AB grew its holdings in shares of Tenable by 10.4% during the 4th quarter. Nordea Investment Management AB now owns 267,519 shares of the company’s stock worth $10,489,000 after purchasing an additional 25,247 shares during the period. Barclays PLC increased its position in shares of Tenable by 31.9% during 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. Harbor Capital Advisors Inc. raised its holdings in Tenable by 430.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 248,117 shares of the company’s stock valued at $9,771,000 after buying an additional 201,360 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Tenable by 41.9% in the fourth quarter. Wells Fargo & Company MN now owns 67,831 shares of the company’s stock valued at $2,671,000 after buying an additional 20,031 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.