Stifel Nicolaus Issues Pessimistic Forecast for Tenable (NASDAQ:TENB) Stock Price

Tenable (NASDAQ:TENB) had its price objective decreased by Stifel Nicolaus from $45.00 to $30.00 in a report issued on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research analysts have also recently commented on TENB. Robert W. Baird lowered their target price on Tenable from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays lowered their price objective on Tenable from $48.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Stephens assumed coverage on shares of Tenable in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 target price on the stock. Truist Financial lowered their price target on shares of Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Scotiabank reduced their price objective on shares of Tenable from $45.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.44.

Tenable Stock Performance

Shares of Tenable stock opened at $30.77 on Wednesday. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -102.57 and a beta of 0.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50-day moving average of $34.47 and a 200 day moving average of $38.83. Tenable has a 12 month low of $28.75 and a 12 month high of $49.18.

Tenable (NASDAQ:TENB) last announced its earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. The firm had revenue of $239.14 million for the quarter, compared to the consensus estimate of $234.12 million. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tenable will post 0.12 earnings per share for the current year.

Insider Activity

In other Tenable news, Director Linda Kay Zecher sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total value of $92,500.00. Following the transaction, the director now directly owns 353 shares of the company’s stock, valued at approximately $13,061. The trade was a 87.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark C. Thurmond sold 1,341 shares of Tenable stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total transaction of $53,049.96. Following the completion of the sale, the chief executive officer now directly owns 41,266 shares in the company, valued at approximately $1,632,482.96. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,128 shares of company stock valued at $539,256. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tenable

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Tenable in the fourth quarter valued at about $54,950,000. Shapiro Capital Management LLC lifted its position in shares of Tenable by 647.5% during the 4th quarter. Shapiro Capital Management LLC now owns 1,060,055 shares of the company’s stock valued at $41,745,000 after acquiring an additional 918,235 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tenable by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 13,947,023 shares of the company’s stock worth $549,234,000 after acquiring an additional 708,249 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Tenable by 47.6% in the 1st quarter. Penserra Capital Management LLC now owns 1,687,589 shares of the company’s stock worth $59,031,000 after acquiring an additional 544,375 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Tenable in the 4th quarter valued at approximately $15,653,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.