Tenable (NASDAQ:TENB) Updates FY 2024 Earnings Guidance

Tenable (NASDAQ:TENB) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.210-1.230 for the period, compared to the consensus EPS estimate of 1.220. The company issued revenue guidance of $893.3 million-$897.3 million, compared to the consensus revenue estimate of $896.0 million. Tenable also updated its Q4 2024 guidance to 0.330-0.350 EPS.

Tenable Trading Up 2.8 %

Shares of NASDAQ TENB opened at $40.17 on Tuesday. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $41.27 and a two-hundred day simple moving average of $41.53. The firm has a market cap of $4.83 billion, a PE ratio of -78.76 and a beta of 0.85.

Analyst Upgrades and Downgrades

TENB has been the topic of several recent research reports. Robert W. Baird dropped their target price on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Westpark Capital reissued a “hold” rating on shares of Tenable in a report on Thursday, October 31st. Piper Sandler lowered their target price on Tenable from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Tenable from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Morgan Stanley restated an “equal weight” rating and set a $47.00 price objective (down from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.63.

Insider Transactions at Tenable

In other Tenable news, CFO Stephen A. Vintz sold 3,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.74, for a total value of $135,913.20. Following the completion of the transaction, the chief financial officer now directly owns 285,045 shares of the company’s stock, valued at approximately $12,182,823.30. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amit Yoran sold 5,293 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $42.74, for a total value of $226,222.82. Following the completion of the sale, the chief executive officer now owns 51,691 shares in the company, valued at approximately $2,209,273.34. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,654 shares of company stock worth $862,879 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

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.