Tenable’s (TENB) “Outperform” Rating Reaffirmed at Wedbush

Tenable (NASDAQ:TENB)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $65.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 48.74% from the company’s previous close.

A number of other analysts have also issued reports on the company. Susquehanna raised their target price on Tenable from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Westpark Capital raised shares of 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. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of Tenable in a research report on Thursday. Wells Fargo & Company lifted their target price on Tenable from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Stephens raised their target price on Tenable from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.20.

Tenable Stock Down 3.0 %

TENB traded down $1.33 on Thursday, reaching $43.70. 300,564 shares of the company traded hands, compared to its average volume of 931,019. Tenable has a 52-week low of $33.85 and a 52-week high of $53.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -64.26 and a beta of 0.94. The stock’s 50 day moving average price is $47.16 and its 200-day moving average price is $45.17.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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. On average, sell-side analysts expect that Tenable will post -0.12 EPS for the current fiscal year.

Insider Activity

In related news, COO Mark C. Thurmond sold 3,976 shares of Tenable stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $47.34, for a total transaction of $188,223.84. Following the completion of the sale, the chief operating officer now owns 53,500 shares of the company’s stock, valued at approximately $2,532,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Tenable news, COO Mark C. Thurmond sold 3,976 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $47.34, for a total transaction of $188,223.84. Following the transaction, the chief operating officer now owns 53,500 shares in the company, valued at approximately $2,532,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen A. Vintz sold 5,216 shares of the business’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 $241,083.52. Following the completion of the sale, the chief financial officer now directly owns 238,593 shares of the company’s stock, valued at approximately $11,027,768.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,382 shares of company stock valued at $15,021,615. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tenable

Hedge funds and other institutional investors have recently modified their holdings of the business. Dakota Wealth Management acquired a new stake in shares of Tenable in the 3rd quarter valued at approximately $210,000. Raymond James & Associates grew its stake in shares of Tenable by 4.8% during the third quarter. Raymond James & Associates now owns 17,336 shares of the company’s stock worth $777,000 after buying an additional 800 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Tenable by 2.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 45,740 shares of the company’s stock worth $2,049,000 after buying an additional 904 shares in the last quarter. Mackenzie Financial Corp lifted 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 during the last quarter. Finally, Emerald Advisers LLC boosted its holdings in shares of Tenable by 7.7% during the 3rd quarter. Emerald Advisers LLC now owns 795,198 shares of the company’s stock valued at $35,625,000 after acquiring an additional 56,677 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.