Tenable’s (TENB) “Buy” Rating Reaffirmed at Needham & Company LLC

Tenable (NASDAQ:TENB)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $62.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 37.69% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Morgan Stanley upgraded shares of Tenable from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $46.00 to $60.00 in a report on Tuesday, January 9th. Susquehanna increased their target price on shares of Tenable from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Stephens upped their price target on shares of Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Westpark Capital raised shares of Tenable from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Friday, January 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 price target on shares of Tenable in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.63.

Tenable Trading Up 0.4 %

Shares of NASDAQ TENB opened at $45.03 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The company has a market cap of $5.35 billion, a PE ratio of -66.22 and a beta of 0.94. The company has a 50-day moving average of $47.77 and a two-hundred day moving average of $45.10. Tenable has a 1-year low of $33.85 and a 1-year high of $53.50.

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

Insider Activity

In related news, CEO Amit Yoran sold 12,329 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 transaction of $569,846.38. Following the transaction, the chief executive officer now directly owns 304,444 shares of the company’s stock, valued at $14,071,401.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tenable news, CEO Amit Yoran sold 12,329 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $46.22, for a total transaction of $569,846.38. Following the sale, the chief executive officer now directly owns 304,444 shares in the company, valued at $14,071,401.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark C. Thurmond sold 1,089 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $47.73, for a total transaction of $51,977.97. Following the completion of the sale, the chief operating officer now owns 48,846 shares in the company, valued at $2,331,419.58. The disclosure for this sale can be found here. Insiders have sold 317,382 shares of company stock valued at $15,021,615 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TENB. Avior Wealth Management LLC raised its holdings in Tenable by 13.6% during the 3rd quarter. Avior Wealth Management LLC now owns 11,237 shares of the company’s stock worth $503,000 after purchasing an additional 1,341 shares during the last quarter. Dakota Wealth Management bought a new stake in shares of Tenable in the 3rd quarter valued at $210,000. Raymond James & Associates increased its stake in shares of Tenable by 4.8% in the 3rd quarter. Raymond James & Associates now owns 17,336 shares of the company’s stock valued at $777,000 after acquiring an additional 800 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Tenable by 2.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 45,740 shares of the company’s stock valued at $2,049,000 after acquiring an additional 904 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Tenable by 0.9% in the 3rd quarter. Mackenzie Financial Corp now owns 3,021,637 shares of the company’s stock valued at $131,955,000 after acquiring an additional 27,875 shares in the last quarter. 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.