Tenable (NASDAQ:TENB) Price Target Lowered to $28.00 at Needham & Company LLC

Tenable (NASDAQ:TENB) had its price target trimmed by Needham & Company LLC from $38.00 to $28.00 in a report issued on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on TENB. Barclays lowered their target price on shares of Tenable from $33.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday. Canaccord Genuity Group lowered their price objective on Tenable from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenable in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on Tenable from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, October 27th. Finally, Wall Street Zen upgraded shares of Tenable from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.88.

Tenable Stock Performance

Shares of Tenable stock opened at $23.56 on Thursday. Tenable has a 12 month low of $22.51 and a 12 month high of $45.44. The firm has a market capitalization of $2.81 billion, a P/E ratio of -87.26 and a beta of 0.64. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The business has a fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $29.19.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $252.44 million during the quarter, compared to the consensus estimate of $247.43 million. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. On average, equities analysts forecast that Tenable will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at Tenable

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of Tenable stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.82, for a total value of $2,854,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Barron Anschutz sold 976 shares of the business’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $29.10, for a total transaction of $28,401.60. Following the sale, the insider owned 61,420 shares of the company’s stock, valued at approximately $1,787,322. This represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tenable

A number of institutional investors and hedge funds have recently modified their holdings of TENB. Voya Investment Management LLC boosted its position in shares of Tenable by 39.8% in the third quarter. Voya Investment Management LLC now owns 1,111,531 shares of the company’s stock worth $32,412,000 after purchasing an additional 316,390 shares during the period. Caxton Associates LLP bought a new stake in shares of Tenable during the 1st quarter valued at $466,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Tenable by 9.7% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 129,931 shares of the company’s stock valued at $4,389,000 after buying an additional 11,469 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Tenable by 285.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 46,364 shares of the company’s stock valued at $1,566,000 after buying an additional 34,331 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Tenable by 293.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 406,202 shares of the company’s stock worth $13,722,000 after buying an additional 302,990 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Tenable

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.