Tenable Holdings, Inc. (NASDAQ:TENB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Tenable Holdings, Inc. (NASDAQ:TENB) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $56.63.

A number of analysts recently weighed in on TENB shares. Truist Financial upped their target price on shares of Tenable from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Stephens upped their target price on shares of Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Westpark Capital upgraded shares of Tenable from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Friday, January 12th. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of Tenable in a research note on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Tenable in a research note on Wednesday, April 10th.

Tenable Stock Up 0.6 %

Shares of TENB opened at $46.42 on Thursday. The stock has a market capitalization of $5.51 billion, a PE ratio of -68.26 and a beta of 0.94. Tenable has a 1 year low of $33.85 and a 1 year high of $53.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19. The company’s 50-day simple moving average is $47.62 and its 200-day simple moving average is $45.11.

Tenable (NASDAQ:TENB) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.06. The business had revenue of $213.31 million for the quarter, compared to analysts’ expectations of $206.95 million. Tenable had a negative net margin of 9.80% and a negative return on equity of 15.19%. Analysts forecast that Tenable will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Stephen A. Vintz sold 200,000 shares of Tenable stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $46.93, for a total value of $9,386,000.00. Following the transaction, the chief financial officer now directly owns 257,256 shares in the company, valued at approximately $12,073,024.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Mark C. Thurmond sold 1,089 shares of Tenable stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $47.73, for a total value of $51,977.97. Following the transaction, the chief operating officer now directly owns 48,846 shares in the company, valued at approximately $2,331,419.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen A. Vintz sold 200,000 shares of Tenable stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $46.93, for a total transaction of $9,386,000.00. Following the completion of the transaction, the chief financial officer now owns 257,256 shares in the company, valued at $12,073,024.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 317,382 shares of company stock valued at $15,021,615. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tenable

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Tenable during the 4th quarter worth $56,568,000. William Blair Investment Management LLC boosted its position in shares of Tenable by 36.6% during the 3rd quarter. William Blair Investment Management LLC now owns 3,028,310 shares of the company’s stock worth $135,668,000 after purchasing an additional 810,831 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Tenable during the 4th quarter worth $32,199,000. First Trust Advisors LP boosted its position in shares of Tenable by 18.0% during the 4th quarter. First Trust Advisors LP now owns 4,452,555 shares of the company’s stock worth $205,085,000 after purchasing an additional 680,477 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Tenable by 114.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,006,755 shares of the company’s stock worth $45,103,000 after purchasing an additional 537,886 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.