Tenable (NASDAQ:TENB) Shares Gap Up Following Earnings Beat

Tenable Holdings, Inc. (NASDAQ:TENB) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $19.72, but opened at $21.06. Tenable shares last traded at $21.5580, with a volume of 2,331,375 shares.

The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $260.53 million during the quarter, compared to analysts’ expectations of $251.79 million. Tenable had a positive return on equity of 0.20% and a negative net margin of 3.61%.Tenable’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. Tenable has set its FY 2026 guidance at 1.810-1.900 EPS and its Q1 2026 guidance at 0.390-0.420 EPS.

Key Stories Impacting Tenable

Here are the key news stories impacting Tenable this week:

• Positive Sentiment: Q4 results and guidance beat: TENB reported Q4 revenue of $260.5M (+11% YoY) and non‑GAAP EPS $0.48, topping estimates; management set FY‑26 non‑GAAP EPS guidance of $1.81–$1.90 and Q1 EPS $0.39–$0.42 (both above consensus). The company also increased its buyback authorization by $150M to $338M — a direct shareholder‑friendly action that supports the stock. Read More.
• Positive Sentiment: Analyst support and upgrades: Zacks moved TENB from Hold to Strong‑Buy and Needham reaffirmed a Buy with a $28 PT, providing additional buy‑side validation after the print. Read More. Read More.
• Neutral Sentiment: Industry/strategy takeaways: Coverage highlights increased demand for AI‑powered security (Tenable One) and platform consolidation momentum; these thematic positives support longer‑term growth but are qualitative and may already be priced in after the earnings release. Read More.
• Neutral Sentiment: Investor commentary and transcripts: Full earnings transcript and call notes are available; investors should watch management’s remarks on billings duration, annual installment billing effects and cadence of enterprise platform deals for forward visibility. Read More.
• Negative Sentiment: Multiple price‑target cuts: Several firms trimmed targets (DA Davidson to $24/Neutral, Wedbush to $32/Outperform, TD Cowen to $38/Buy, JPMorgan to $35/Overweight). Cuts narrow near‑term upside expectations and can pressure sentiment even where ratings remain constructive. Read More.
• Negative Sentiment: Insider selling and cash reduction: Recent disclosures show material insider share sales over the last 6 months and cash & equivalents fell year‑over‑year (reported $402M vs $577M at end‑2024), which some investors may view as a governance/liquidity caution despite strong cash generation. Read More.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TENB shares. Wedbush cut their price objective on shares of Tenable from $42.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays cut their price target on Tenable from $33.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Monday, January 5th. Morgan Stanley set a $30.00 price objective on Tenable in a research note on Thursday, December 18th. DA Davidson dropped their price objective on Tenable from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, UBS Group reduced their target price on Tenable from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.94.

Insider Buying and Selling

In other news, Director A Brooke Seawell sold 115,000 shares of Tenable stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.82, for a total value of $2,854,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tenable

Several large investors have recently added to or reduced their stakes in TENB. Royal Bank of Canada boosted its holdings in Tenable by 11.5% in the first quarter. Royal Bank of Canada now owns 124,839 shares of the company’s stock worth $4,367,000 after purchasing an additional 12,868 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Tenable by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 326,924 shares of the company’s stock worth $11,436,000 after buying an additional 17,349 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Tenable by 83.6% in the 1st quarter. Jane Street Group LLC now owns 112,594 shares of the company’s stock valued at $3,939,000 after buying an additional 51,266 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Tenable during the 2nd quarter valued at about $283,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tenable by 62.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,453 shares of the company’s stock valued at $590,000 after buying an additional 6,689 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Tenable Trading Up 0.2%

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $23.80 and its two-hundred day moving average is $27.59. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -65.86 and a beta of 0.63.

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.