Barclays Forecasts Strong Price Appreciation for Tenable (NASDAQ:TENB) Stock

Tenable (NASDAQ:TENB) had its price target upped by research analysts at Barclays from $33.00 to $39.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 19.96% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group decreased their target price on Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald began coverage on Tenable in a report on Monday, March 31st. They issued an “overweight” rating and a $50.00 price target for the company. Scotiabank dropped their price objective on shares of Tenable from $45.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird reduced their target price on shares of Tenable from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus lowered their price target on shares of Tenable from $45.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Tenable presently has an average rating of “Moderate Buy” and a consensus price target of $40.78.

Tenable Stock Performance

Tenable stock opened at $32.51 on Monday. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -87.86 and a beta of 0.80. Tenable has a 12 month low of $28.75 and a 12 month high of $49.18. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $32.83 and its 200-day moving average is $35.64.

Tenable (NASDAQ:TENB) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. Tenable had a negative net margin of 4.86% and a negative return on equity of 3.11%. The firm had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. During the same quarter last year, the firm posted $0.25 earnings per share. Tenable’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Tenable will post 0.12 earnings per share for the current year.

Insider Transactions at Tenable

In related news, insider Barron Anschutz sold 1,245 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $31.98, for a total transaction of $39,815.10. Following the transaction, the insider directly owned 57,905 shares in the company, valued at $1,851,801.90. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark C. Thurmond sold 5,577 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $178,352.46. Following the sale, the chief executive officer owned 75,210 shares of the company’s stock, valued at approximately $2,405,215.80. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,845 shares of company stock worth $637,709. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tenable

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Tenable by 2.0% during the fourth quarter. FMR LLC now owns 15,515,164 shares of the company’s stock valued at $610,987,000 after purchasing an additional 304,237 shares during the last quarter. Vanguard Group Inc. boosted its position in Tenable by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock valued at $549,234,000 after purchasing an additional 708,249 shares during the period. Ameriprise Financial Inc. grew its stake in Tenable by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 5,918,686 shares of the company’s stock worth $207,038,000 after buying an additional 312,299 shares during the last quarter. RGM Capital LLC increased its position in Tenable by 2.0% in the first quarter. RGM Capital LLC now owns 3,772,624 shares of the company’s stock worth $131,966,000 after buying an additional 72,607 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Tenable by 1,043.7% in the second quarter. Assenagon Asset Management S.A. now owns 3,239,624 shares of the company’s stock worth $109,434,000 after buying an additional 2,956,367 shares during the period. Institutional investors and hedge funds 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.