Tenable (NASDAQ:TENB) Price Target Raised to $43.00

Tenable (NASDAQ:TENB) had its price target raised by UBS Group from $40.00 to $43.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on TENB. Westpark Capital reiterated a “hold” rating on shares of Tenable in a research report on Wednesday, April 30th. DA Davidson decreased their price target on Tenable from $45.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Robert W. Baird decreased their price target on Tenable from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 price target (up previously from $37.00) on shares of Tenable in a research report on Thursday. Finally, Morgan Stanley decreased their price target on Tenable from $40.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.06.

Tenable Price Performance

Shares of NASDAQ TENB opened at $30.57 on Thursday. Tenable has a twelve month low of $28.75 and a twelve month high of $45.44. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -82.62 and a beta of 0.76. The firm has a 50-day moving average of $32.91 and a two-hundred day moving average of $35.06.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Tenable had a negative net margin of 4.74% and a negative return on equity of 3.22%. The company had revenue of $247.30 million during the quarter, compared to the consensus estimate of $242.15 million. During the same period in the prior year, the company earned $0.31 EPS. Tenable’s revenue was up 11.8% on a year-over-year basis. As a group, analysts expect that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

In other Tenable news, insider Barron Anschutz sold 970 shares of Tenable stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.08, for a total value of $32,087.60. Following the completion of the sale, the insider directly owned 58,311 shares in the company, valued at $1,928,927.88. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark C. Thurmond sold 2,483 shares of Tenable stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.45, for a total transaction of $80,573.35. Following the completion of the sale, the chief executive officer owned 72,727 shares of the company’s stock, valued at $2,359,991.15. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,815 shares of company stock valued at $669,797. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Tenable

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Tenable by 858.2% in 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 bought a new position in shares of Tenable in the 4th quarter valued at approximately $35,000. Byrne Asset Management LLC raised its stake in shares of Tenable by 115.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock valued at $47,000 after acquiring an additional 727 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Tenable in the 4th quarter valued at approximately $53,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tenable in the 1st quarter valued at approximately $69,000. 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.