UBS Group Cuts Tenable (NASDAQ:TENB) Price Target to $40.00

Tenable (NASDAQ:TENB) had its target price trimmed by UBS Group from $47.00 to $40.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Truist Financial dropped their price target on Tenable from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Jefferies Financial Group dropped their target price on shares of Tenable from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Morgan Stanley decreased their price target on shares of Tenable from $40.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Scotiabank lifted their price objective on shares of Tenable from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Tenable from $53.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.44.

Tenable Price Performance

Shares of NASDAQ:TENB opened at $30.77 on Wednesday. The company has a 50 day moving average of $34.47 and a 200 day moving average of $38.83. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.70 billion, a P/E ratio of -102.57 and a beta of 0.88. Tenable has a 12 month low of $28.75 and a 12 month high of $49.18.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. Tenable had a negative net margin of 4.03% and a negative return on equity of 2.07%. The firm had revenue of $239.14 million during the quarter, compared to analyst estimates of $234.12 million. During the same period in the previous year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tenable will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Tenable

In other Tenable news, CEO Stephen A. Vintz sold 6,681 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.16, for a total value of $254,946.96. Following the transaction, the chief executive officer now owns 316,523 shares in the company, valued at approximately $12,078,517.68. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark C. Thurmond sold 1,341 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.56, for a total transaction of $53,049.96. Following the transaction, the chief executive officer now directly owns 41,266 shares of the company’s stock, valued at approximately $1,632,482.96. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,128 shares of company stock worth $539,256. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of 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 buying an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Tenable in the fourth quarter worth $35,000. SBI Securities Co. Ltd. purchased a new stake in Tenable in the fourth quarter worth $38,000. Johnson Financial Group Inc. purchased a new position in Tenable during the 4th quarter valued at $53,000. Finally, Byrne Asset Management LLC raised its holdings in Tenable by 115.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock worth $47,000 after purchasing an additional 727 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.