Barclays Forecasts Strong Price Appreciation for Tenable (NASDAQ:TENB) Stock

Tenable (NASDAQ:TENB) had its price target boosted by stock analysts at Barclays from $45.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 11.09% from the company’s current price.

A number of other analysts also recently issued reports on the company. Scotiabank lifted their target price on Tenable from $44.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Morgan Stanley reissued an “equal weight” rating and issued a $47.00 target price (down from $50.00) on shares of Tenable in a research note on Monday, December 2nd. Robert W. Baird cut their price target on shares of Tenable from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Westpark Capital restated a “hold” rating on shares of Tenable in a research note on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Tenable from a “buy” rating to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.44.

Tenable Trading Up 0.4 %

Shares of NASDAQ TENB opened at $43.21 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.88. Tenable has a twelve month low of $35.25 and a twelve month high of $53.50. The company’s fifty day moving average is $41.45 and its 200-day moving average is $41.34. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of -84.73 and a beta of 0.87.

Tenable (NASDAQ:TENB) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.26). Tenable had a negative net margin of 6.82% and a negative return on equity of 6.21%. Equities research analysts predict that Tenable will post -0.02 EPS for the current year.

Insider Activity

In other news, CFO Stephen A. Vintz sold 2,801 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.72, for a total value of $114,056.72. Following the completion of the sale, the chief financial officer now directly owns 281,536 shares of the company’s stock, valued at $11,464,145.92. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amit Yoran sold 4,828 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $40.72, for a total value of $196,596.16. Following the completion of the transaction, the chief executive officer now owns 45,171 shares in the company, valued at $1,839,363.12. This represents a 9.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,463 shares of company stock worth $894,042 in the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TENB. FMR LLC lifted its position in shares of Tenable by 2.0% during the 3rd quarter. FMR LLC now owns 15,210,927 shares of the company’s stock worth $616,347,000 after buying an additional 305,334 shares in the last quarter. State Street Corp increased its position in shares of Tenable by 2.6% during the 3rd quarter. State Street Corp now owns 2,913,580 shares of the company’s stock valued at $118,058,000 after purchasing an additional 73,293 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tenable by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,794,485 shares of the company’s stock worth $113,255,000 after purchasing an additional 33,303 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Tenable by 17.1% in the 4th quarter. Fisher Asset Management LLC now owns 1,238,396 shares of the company’s stock worth $48,768,000 after buying an additional 180,668 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in Tenable by 0.6% during the third quarter. Penserra Capital Management LLC now owns 1,135,875 shares of the company’s stock valued at $46,025,000 after buying an additional 7,301 shares during the period. 89.06% of the stock is owned by institutional investors.

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.