UBS Group Cuts Tenable (NASDAQ:TENB) Price Target to $40.00

Tenable (NASDAQ:TENB) had its price objective decreased by UBS Group from $47.00 to $40.00 in a research note released on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms also recently weighed in on TENB. Jefferies Financial Group lowered their price objective on shares of Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Cantor Fitzgerald assumed coverage on shares of Tenable in a report on Monday, March 31st. They issued an “overweight” rating and a $50.00 target price on the stock. Needham & Company LLC cut their price target on Tenable from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank increased their price objective on Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut 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. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.44.

Tenable Price Performance

TENB stock opened at $30.77 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’s 50-day moving average is $34.47 and its 200-day moving average is $38.83. The stock has a market capitalization of $3.70 billion, a PE ratio of -102.57 and a beta of 0.88. Tenable has a 1 year low of $28.75 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. The business had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities research analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 353 shares of the company’s stock, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen A. Vintz sold 6,681 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the completion of the sale, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,128 shares of company stock worth $539,256. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Tenable in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Tenable in the fourth quarter valued at approximately $38,000. Byrne Asset Management LLC lifted its stake in shares of Tenable by 115.4% during the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock valued at $47,000 after buying an additional 727 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Tenable in the 4th quarter worth approximately $53,000. 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.