Tenable Holdings, Inc. (NASDAQ:TENB) Receives $40.44 Average PT from Brokerages

Tenable Holdings, Inc. (NASDAQ:TENB) has received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.44.

Several brokerages have issued reports on TENB. Cantor Fitzgerald initiated coverage on Tenable in a research note on Monday, March 31st. They issued an “overweight” rating and a $50.00 target price on the stock. Robert W. Baird dropped their price objective on shares of Tenable from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. DA Davidson reduced their target price on shares of Tenable from $45.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Needham & Company LLC dropped their price target on shares of Tenable from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus cut their price objective on shares of Tenable from $45.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, April 30th.

Tenable Price Performance

Shares of NASDAQ:TENB opened at $33.27 on Tuesday. The company has a market capitalization of $4.06 billion, a P/E ratio of -89.92 and a beta of 0.79. The company’s 50-day moving average is $32.29 and its 200 day moving average is $36.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.04 and a current ratio of 1.04. Tenable has a fifty-two week low of $28.75 and a fifty-two week high of $49.18.

Tenable (NASDAQ:TENB) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. Tenable had a negative net margin of 4.86% and a negative return on equity of 3.11%. The business had revenue of $239.14 million for the quarter, compared to analyst estimates of $234.12 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Tenable will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Tenable

In other news, insider Barron Anschutz sold 1,245 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total value of $39,815.10. Following the transaction, the insider now owns 57,905 shares of the company’s stock, valued at $1,851,801.90. This represents a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen A. Vintz sold 6,499 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $31.98, for a total transaction of $207,838.02. Following the sale, the chief executive officer now owns 331,394 shares in the company, valued at approximately $10,597,980.12. This trade represents a 1.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,845 shares of company stock valued at $637,709 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TENB. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Tenable by 858.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Tenable in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Tenable in the fourth quarter worth approximately $38,000. Byrne Asset Management LLC grew its position in Tenable by 115.4% during the first quarter. Byrne Asset Management LLC now owns 1,357 shares of the company’s stock valued at $47,000 after acquiring an additional 727 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Tenable during the fourth quarter worth approximately $53,000. 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.