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

Tenable (NASDAQ:TENB) had its price objective lowered by equities research analysts at Barclays from $48.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 21.40% from the company’s current price.

TENB has been the topic of a number of other reports. Morgan Stanley assumed coverage on Tenable in a report on Tuesday, March 18th. They set an “equal weight” rating and a $40.00 price target on the stock. Stifel Nicolaus cut Tenable from a “buy” rating to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Tenable in a report on Thursday, February 6th. Truist Financial lowered their target price on shares of Tenable from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Jefferies Financial Group cut their target price on shares of Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.29.

Tenable Price Performance

Shares of Tenable stock opened at $32.95 on Monday. The stock’s fifty day moving average is $36.46 and its 200 day moving average is $39.68. Tenable has a one year low of $30.50 and a one year high of $49.18. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $3.96 billion, a P/E ratio of -109.83 and a beta of 0.88.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. Sell-side analysts anticipate that Tenable will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other news, Director Linda Kay Zecher sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $37.00, for a total value of $92,500.00. Following the sale, the director now directly owns 353 shares in the company, valued at approximately $13,061. This represents a 87.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark C. Thurmond sold 3,606 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $38.48, for a total value of $138,758.88. Following the sale, the chief executive officer now directly owns 74,295 shares of the company’s stock, valued at $2,858,871.60. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,128 shares of company stock worth $539,256 over the last quarter. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Tenable by 858.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 575 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in Tenable in the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new position in Tenable in the fourth quarter worth approximately $38,000. Johnson Financial Group Inc. purchased a new position in Tenable during the 4th quarter worth $53,000. Finally, Larson Financial Group LLC raised its position in Tenable by 89.9% during the 4th quarter. Larson Financial Group LLC now owns 1,426 shares of the company’s stock valued at $56,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors 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.