Tenable (NASDAQ:TENB) Price Target Raised to $42.00

Tenable (NASDAQ:TENB) had its price objective boosted by Needham & Company LLC from $35.00 to $42.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. DA Davidson lowered their price objective on Tenable from $45.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of Tenable from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on shares of Tenable from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Scotiabank cut their price target on shares of Tenable from $45.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 30th. Finally, Barclays boosted their price objective on shares of Tenable from $33.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tenable presently has an average rating of “Moderate Buy” and an average price target of $41.06.

Tenable Stock Performance

NASDAQ TENB opened at $30.57 on Thursday. The firm’s fifty day moving average price is $32.91 and its two-hundred day moving average price is $35.06. The stock has a market cap of $3.73 billion, a PE ratio of -82.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.04 and a current ratio of 1.04. Tenable has a fifty-two week low of $28.75 and a fifty-two week high of $45.44.

Tenable (NASDAQ:TENB) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $247.30 million for the quarter, compared to the consensus estimate of $242.15 million. During the same quarter last year, the business posted $0.31 EPS. Tenable’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts expect that Tenable will post 0.12 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mark C. Thurmond sold 5,577 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $31.98, for a total transaction of $178,352.46. Following the completion of the sale, the chief executive officer owned 75,210 shares of the company’s stock, valued at $2,405,215.80. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Barron Anschutz sold 1,245 shares of Tenable stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $31.98, for a total value of $39,815.10. Following the completion of the sale, the insider owned 57,905 shares of the company’s stock, valued at approximately $1,851,801.90. The trade was a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,815 shares of company stock valued at $669,797 in the last ninety days. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TENB. Assenagon Asset Management S.A. grew its holdings 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 purchasing an additional 2,956,367 shares during the period. Norges Bank bought a new position in shares of Tenable during the 4th quarter worth about $54,950,000. Nuveen LLC acquired a new stake in shares of Tenable in the 1st quarter valued at about $35,330,000. Shapiro Capital Management LLC increased 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 valued at $41,745,000 after buying an additional 918,235 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in Tenable by 47.6% in the 1st 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 in the last quarter. 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.