Needham & Company LLC Cuts Tenable (NASDAQ:TENB) Price Target to $38.00

Tenable (NASDAQ:TENB) had its price target cut by Needham & Company LLC from $42.00 to $38.00 in a report published on Thursday, MarketBeat.com reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reissued a “hold” rating and issued a $38.00 price objective (up from $37.00) on shares of Tenable in a research report on Thursday, July 31st. UBS Group increased their price objective on shares of Tenable from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenable in a research report on Wednesday, October 8th. Barclays dropped their price objective on shares of Tenable from $39.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $45.00 target price (up previously from $40.00) on shares of Tenable in a report on Thursday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tenable has an average rating of “Hold” and a consensus price target of $38.63.

Tenable Trading Up 0.6%

Shares of NASDAQ:TENB opened at $29.02 on Thursday. Tenable has a 52 week low of $28.45 and a 52 week high of $45.44. The company’s 50 day moving average is $29.91 and its two-hundred day moving average is $31.38. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.01. The company has a market cap of $3.51 billion, a PE ratio of -107.48 and a beta of 0.73.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $252.44 million during the quarter, compared to analysts’ expectations of $247.43 million. During the same period in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS. Q4 2025 guidance at 0.390-0.430 EPS. Equities analysts predict that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Tenable

In other news, Director A Brooke Seawell sold 4,622 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $30.12, for a total value of $139,214.64. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $451,800. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen A. Vintz sold 29,196 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $30.25, for a total transaction of $883,179.00. Following the sale, the chief executive officer owned 358,949 shares of the company’s stock, valued at approximately $10,858,207.25. This represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 64,555 shares of company stock worth $1,951,065. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Tenable

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tenable by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,764 shares of the company’s stock worth $376,000 after purchasing an additional 1,682 shares during the period. Caxton Associates LLP acquired a new stake in Tenable during the 1st quarter worth $466,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Tenable by 9.7% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 129,931 shares of the company’s stock worth $4,389,000 after purchasing an additional 11,469 shares during the period. KBC Group NV boosted its stake in Tenable by 19.4% during the 1st quarter. KBC Group NV now owns 5,652 shares of the company’s stock worth $198,000 after purchasing an additional 919 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in Tenable by 2.8% during the 2nd quarter. Stephens Investment Management Group LLC now owns 981,628 shares of the company’s stock worth $33,159,000 after purchasing an additional 26,441 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.