Tenable (NASDAQ:TENB) Receives “Buy” Rating from Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $62.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 33.56% from the company’s current price.

Several other brokerages have also weighed in on TENB. Wells Fargo & Company increased their price objective on Tenable from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Truist Financial raised their price target on Tenable from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Morgan Stanley raised Tenable from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $46.00 to $60.00 in a report on Tuesday, January 9th. Westpark Capital raised Tenable from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, January 12th. Finally, Stephens raised their price target on Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.63.

Tenable Price Performance

Shares of NASDAQ TENB opened at $46.42 on Tuesday. The stock has a fifty day simple moving average of $47.62 and a two-hundred day simple moving average of $45.11. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -68.26 and a beta of 0.94. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.06. Tenable had a negative return on equity of 15.19% and a negative net margin of 9.80%. The business had revenue of $213.31 million during the quarter, compared to analyst estimates of $206.95 million. Analysts anticipate that Tenable will post -0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 5,216 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $46.22, for a total transaction of $241,083.52. Following the sale, the chief financial officer now owns 238,593 shares in the company, valued at $11,027,768.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Linda Kay Zecher sold 2,600 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $50.75, for a total transaction of $131,950.00. Following the transaction, the director now directly owns 2 shares of the company’s stock, valued at $101.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen A. Vintz sold 5,216 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total value of $241,083.52. Following the transaction, the chief financial officer now directly owns 238,593 shares in the company, valued at $11,027,768.46. The disclosure for this sale can be found here. Insiders have sold 317,382 shares of company stock worth $15,021,615 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in shares of Tenable in the third quarter worth about $27,000. Principal Securities Inc. bought a new stake in shares of Tenable in the fourth quarter worth about $35,000. SG Americas Securities LLC bought a new stake in shares of Tenable in the fourth quarter worth about $127,000. Verity & Verity LLC bought a new stake in shares of Tenable in the first quarter worth about $127,000. Finally, Shell Asset Management Co. bought a new stake in shares of Tenable in the third quarter worth about $138,000. 89.06% of the stock is owned by institutional investors.

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.