Tenable (NASDAQ:TENB) Price Target Lowered to $40.00 at Robert W. Baird

Tenable (NASDAQ:TENB) had its target price trimmed by Robert W. Baird from $44.00 to $40.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus lowered Tenable from a “buy” rating to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Needham & Company LLC reduced their price target on shares of Tenable from $50.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday. Stephens assumed coverage on shares of Tenable in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $42.00 price target for the company. Jefferies Financial Group cut their price objective on shares of Tenable from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Finally, Morgan Stanley lowered their target price on Tenable from $40.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.44.

Tenable Price Performance

Tenable stock opened at $30.77 on Wednesday. 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 stock has a market cap of $3.70 billion, a price-to-earnings ratio of -102.57 and a beta of 0.88. The firm has a 50-day moving average of $34.47 and a two-hundred day moving average of $38.83. Tenable has a 1 year low of $28.75 and a 1 year high of $49.18.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The firm had revenue of $239.14 million during the quarter, compared to analyst estimates of $234.12 million. Tenable had a negative return on equity of 2.07% and a negative net margin of 4.03%. Tenable’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, research 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 that occurred on Tuesday, March 11th. The shares were sold at an average price of $37.00, for a total transaction of $92,500.00. Following the sale, the director now owns 353 shares of the company’s stock, valued at approximately $13,061. The trade was a 87.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark C. Thurmond sold 3,606 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total transaction of $138,758.88. Following the completion of the transaction, the chief executive officer now directly owns 74,295 shares of the company’s stock, valued at approximately $2,858,871.60. This represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,128 shares of company stock worth $539,256 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenable

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MQS Management LLC purchased a new position in shares of Tenable in the first quarter worth about $267,000. CWM LLC increased its holdings in Tenable by 962.5% in the 1st quarter. CWM LLC now owns 5,801 shares of the company’s stock worth $203,000 after buying an additional 5,255 shares during the period. Caas Capital Management LP acquired a new position in Tenable in the 1st quarter worth approximately $301,000. Xponance Inc. lifted its stake in Tenable by 6.6% during the 1st quarter. Xponance Inc. now owns 9,021 shares of the company’s stock valued at $316,000 after acquiring an additional 562 shares during the period. Finally, Penserra Capital Management LLC boosted 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 valued at $59,031,000 after acquiring an additional 544,375 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.