Tenable (NASDAQ:TENB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Tenable (NASDAQ:TENB) had its price target increased by Stifel Nicolaus from $30.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 14.49% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Wedbush upped their price objective on shares of Tenable from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday. Westpark Capital reiterated a “hold” rating on shares of Tenable in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Tenable from $53.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Morgan Stanley lowered their price objective on Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $45.00 target price (up previously from $40.00) on shares of Tenable in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.06.

Tenable Stock Down 2.4%

TENB opened at $30.57 on Thursday. Tenable has a 52 week low of $28.75 and a 52 week high of $45.44. The business has a 50 day moving average price of $32.91 and a two-hundred day moving average price of $35.10. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.93. The company has a market cap of $3.73 billion, a PE ratio of -82.62 and a beta of 0.76.

Tenable (NASDAQ:TENB) last released its earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Tenable had a negative return on equity of 3.22% and a negative net margin of 4.74%. The business had revenue of $247.30 million for the quarter, compared to analyst estimates of $242.15 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts anticipate that Tenable will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, CEO Stephen A. Vintz sold 3,386 shares of Tenable stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total transaction of $109,875.70. Following the completion of the transaction, the chief executive officer directly owned 328,008 shares of the company’s stock, valued at approximately $10,643,859.60. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark C. Thurmond sold 2,483 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $32.45, for a total value of $80,573.35. Following the sale, the chief executive officer owned 72,727 shares in the company, valued at approximately $2,359,991.15. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,815 shares of company stock worth $669,797 in the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

A number of large investors have recently added to or reduced their stakes in TENB. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Tenable by 858.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Tenable in the fourth quarter valued at approximately $35,000. Byrne Asset Management LLC increased 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 worth $47,000 after purchasing an additional 727 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Tenable during the 4th quarter worth approximately $53,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Tenable during the 1st quarter worth approximately $69,000. 89.06% of the stock is 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.