Tenable (NASDAQ:TENB) Stock Rating Lowered by Wall Street Zen

Tenable (NASDAQ:TENB) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Several other brokerages have also commented on TENB. JPMorgan Chase & Co. cut their price target on shares of Tenable from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, October 27th. Morgan Stanley set a $30.00 target price on Tenable in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenable in a research report on Wednesday, October 8th. Piper Sandler dropped their price target on Tenable from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Finally, Scotiabank reduced their price objective on Tenable from $37.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tenable has an average rating of “Hold” and an average target price of $36.88.

Tenable Price Performance

Shares of NASDAQ TENB opened at $22.12 on Friday. The stock’s 50-day simple moving average is $25.13 and its 200-day simple moving average is $28.75. The firm has a market capitalization of $2.64 billion, a PE ratio of -81.93 and a beta of 0.64. Tenable has a fifty-two week low of $22.06 and a fifty-two week high of $45.44. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 0.94.

Tenable (NASDAQ:TENB) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $252.44 million during the quarter, compared to analysts’ expectations of $247.43 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Tenable has set its FY 2025 guidance at 1.510-1.540 EPS and its Q4 2025 guidance at 0.390-0.430 EPS. As a group, equities research analysts forecast that Tenable will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Tenable

In other Tenable news, Director A Brooke Seawell sold 115,000 shares of Tenable stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.82, for a total value of $2,854,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tenable

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake in shares of Tenable by 1,043.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,239,624 shares of the company’s stock worth $109,434,000 after acquiring an additional 2,956,367 shares in the last quarter. Norges Bank purchased a new stake in Tenable during the second quarter worth $47,983,000. Shapiro Capital Management LLC grew its holdings in Tenable by 38.8% in the third quarter. Shapiro Capital Management LLC now owns 3,612,353 shares of the company’s stock valued at $105,336,000 after purchasing an additional 1,010,230 shares during the last quarter. Marshall Wace LLP increased its position in shares of Tenable by 272.1% in the second quarter. Marshall Wace LLP now owns 1,237,173 shares of the company’s stock valued at $41,792,000 after buying an additional 904,662 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Tenable by 98.9% in the third quarter. Barclays PLC now owns 1,675,871 shares of the company’s stock valued at $48,868,000 after buying an additional 833,125 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Tenable Company Profile

Tenable Holdings, Inc is a global cybersecurity company specializing in vulnerability management and continuous threat exposure assessment. Headquartered in Columbia, Maryland, Tenable was founded in 2002 by Ron Gula and Jack Huffard to address the growing need for proactive network security solutions. Over the years, the company has evolved from a pioneer in open-source vulnerability scanning to a leading provider of comprehensive security platforms that help organizations identify, investigate and prioritize cyber risks across on-premises, cloud and operational technology environments.

At the core of Tenable’s product suite is Nessus, one of the industry’s most widely adopted vulnerability scanners.